Who Really Moves the Market?

The property market isn’t one big machine it’s a chain reaction. Each buyer group plays a role, and when one moves, the ripple spreads through the rest of the market. From first home buyers sparking the ignition to prestige buyers setting headline benchmarks, understanding who’s active (and who’s not) helps explain why the market feels the way it does.

First Home Buyers – The Foundation They are the ignition switch of the market. When they’re active, entry-level homes move, freeing owners to upgrade and kickstarting the chain reaction up the ladder.

Investors – The Amplifiers They magnify market movements. When confident, they flood the low–mid market, tightening rental supply and pushing prices up. When they retreat, demand falls sharply.

Upsizers (Young Families) – The Engine Room These buyers drive the mid-market by selling their smaller homes and moving into larger family properties. Their activity puts pressure on $1–2m stock.

Downsizers – The Release Valves Typically cashed-up empty nesters. They release family homes back to the market while soaking up apartments and lifestyle stock, influencing both ends at once.

Lifestyle Buyers (Sea/Tree Changers) – The Wildcards Often interstate or city-based, chasing lifestyle rather than yield. They can distort local pricing and quickly transform demand in certain suburbs.

Developers – The Supply Creators They influence future market balance. When they’re buying, they push up land values. When they’re sidelined, supply tightens and prices rise.

International Buyers – The Prestige Influencers More active in apartments and luxury property. They don’t drive the ladder but can set new benchmarks that ripple across prestige suburbs.

Luxury Buyers – The Headline Makers Prestige buyers aren’t dependent on the rest of the chain. They’re wealth-driven, often cash-based, and their purchases create headlines and confidence but rarely move the broader market.