Market Update: May 2026

8 May

What Is Actually Going On In This Market | Billy Jaz

Billy Jaz · McGrath Palm Beach · Market Update · May 2026

The market has shifted. Here's a straight read on what's actually happening right now — the headwinds, the silver lining, and what it means for buyers and sellers.

3 Rate rises in 2026

25% Properties with price cuts in first 30 days — April 2026

2 Suburb records set last week

The headwinds are real.

For about eight or nine weeks now the market has been feeling it. Three interest rate rises into 2026. Inflation running hot. Global and local uncertainty creating a fog of hesitation across the market.

The numbers reflect it. Fewer people at inspections. Less inquiry. Properties sitting longer. Eight weeks ago we had multiple offers on multiple properties. Today we have a few offers on a few properties.

Domain.com.au data for April confirms it — 25% of properties with a listed price had a negative price adjustment within the first 30 days.

Buyer behaviour right now

Waiting

80%

Acting

20%

But there's a silver lining.

Last week we sold two properties at suburb record prices. Both were premium — quality location, quality land, quality build. That tells you something important about where this market actually is.

Premium properties are still attracting premium prices. Average properties are getting average results. The market hasn't declined — it's become selective.

For Buyers

The deal you've been waiting for is already here.

80% of buyers are crossing their arms. Waiting for May 12. Retracting due to uncertainty. The smart 20% are moving — and they're getting properties at prices that weren't available two months ago.

For Sellers

Time on market is not your friend right now.

Waiting for the right buyer is a risk in this environment. A slowing market is not a declining market — property values are still up. But if you have a bird in the hand, seriously consider it.

Case Study — Buyer Opportunity

What this market looks like in real numbers.

A property the seller wants $2,000,000 for. Right now you're likely buying it for $1,950,000 — maybe even $1,900,000. Two or three months ago you would have paid $2,100,000.

The deal you've been looking for is already there. The question is whether you're one of the 20% who sees it.

This is a transitional market. Not a declining one.

It's important not to misinterpret a slowing market for a declining market. Property values are still up. It's just taking longer to sell. We are moving from a seller's market into a balanced market — and that transition requires a different approach.

Strategy. Process. Decisiveness. Good judgment. Those are the things that determine results right now — not the market itself.

The market is the same for everyone. How you navigate it isn't.

Let's talk