Key takeaways
Every year, spring breathes new life into Australia’s property markets.
Listings rise +5.9% from winter to spring (on average over 10 years).
Sales volumes increase +8.4%, making spring the busiest selling season.
Auction volumes surge +31% compared to winter, and +65% compared to summer.
Prices typically record their sharpest lift, averaging +2.6% between winter and spring.
Buyers: Expect more stock but also stronger competition. Be finance-ready and act quickly.
Sellers: Spring brings the most eyeballs but also the most rival listings — presentation and pricing are critical.
Investors: City-level supply differences will matter. Undersupplied markets (like Melbourne or Hobart) could deliver outsized growth.
Every year, spring breathes new life into Australia’s property markets. It’s the season that shapes how the year closes and often sets the tone for the year ahead.
New analysis from Domain indicates that recent cash rate cuts, boosted buyer confidence, and spending power are setting the stage for a supercharged spring selling season.
The data, which looks at the last decade of market trends, reveals:
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Spring price surge: Houses sell for a 2.6% premium in spring compared to winter.
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Strong winter momentum: July clearance rates for 2025 have reached their strongest point in a decade, primarily driven by Sydney and Melbourne (69.1% and 68% respectively, Table 2). Sydney and Melbourne’s clearance rates for winter 2025 have already surpassed spring 2024, demonstrating the renewed momentum in the market.
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Sustained growth in 2025: The combined capital median house price rose 9.2% between January and July 2025 (Table 3), marking the third-highest January-July growth in the last decade.
As Dr Nicola Powell, Chief of Research and Economics at Domain, puts it:
“Spring is the season that sets the tone for the year’s close. It delivers more choice for buyers, greater activity for sellers, and firmer price growth. But with more listings comes more competition, so strategy and presentation matter more than ever.”
The numbers don’t lie: Spring’s seasonal power
Looking at 10 years of data Domain's research reveals that four patterns stand out:
1. Listings always surge.
On average, the number of homes for sale jumps 5.9% between winter and spring.
By summer, stock typically falls back 7.1%. It’s the sharpest seasonal lift of the year.
10 year average difference in Spring vs Winter performance (2015-2025)
Source: Domain
2. Sales volumes follow.
Nationally, transactions rise 8.4% in spring compared to winter, making it the busiest season despite autumn sometimes offering more total listings.
Cities like Canberra (+12.8%), Hobart (+12.2%), and Perth (+10.7%) lead this charge.
3. Auctions dominate.
Auction volumes rise by a staggering 31% compared to winter, and nearly 65% above summer.
While autumn has the highest clearance rates (61.5%), spring’s sheer volume cements it as the auction season.
4. Prices strengthen.
The average price bump between winter and spring is 2.6%, compared to just 0.4% from autumn to winter, and 0.2% from spring to summer. Brisbane, Canberra, and Hobart consistently record the largest spring price gains (around 3%).
In short, spring reliably means more stock, more activity, and higher prices.
A tale of two markets: supply splits the capitals
However, Spring 2025 isn’t starting on level ground. Supply trends have diverged across the country, reshaping local dynamics:
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Sydney: Listings remain strong, up 14.6% year-on-year, keeping buyer choice high. This sustained supply may temper runaway price growth but also signals healthy, competitive conditions.
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Melbourne: Listings are down 10.2% after peaking at record highs in late 2024. Reduced choice is swinging conditions back towards sellers and firming prices.
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Adelaide & Perth: After strong supply earlier in the year, stock has tightened again. This will likely reignite competition and put pressure back on prices.
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Brisbane: Inventory is marginally lower (-1.7%) but remains well below its five-year average, keeping the market tight.
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Hobart & Darwin: Both cities have seen sharp falls in listings (-16.2% and -36.3% respectively), suggesting limited choice and likely upward price pressure.
Dr Powell notes:
“Supply is the hidden lever in market performance. Where listings fall, competition heats up quickly, and where they rise, buyers regain some power. This spring will expose just how uneven conditions are across our capitals.”
Clearance rates: demand proves its strength
If auctions are the pulse of demand, then 2025 is beating strongly. Domain's auction results show...
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July recorded the third-highest national clearance rate for that month in a decade.
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Sydney (69.1%) and Melbourne (68%) have delivered some of their strongest winter results in 10 years, setting the stage for a buoyant spring auction season.
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Adelaide and Brisbane are also trending near the top of their historical ranges, while Perth has been the outlier, with a very low winter clearance rate of 16.4%.
That resilience tells us something important: despite higher stock levels earlier in the year, underlying buyer demand remains robust, fuelled by cheaper borrowing costs.
Prices: momentum already building
While spring usually delivers the strongest seasonal bump, this year prices are already running hot according to Dr. Powell.
Between January and July 2025:
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Combined capital city median house prices rose 9.2%, the third-highest January–July growth in the past decade.
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This growth comes despite higher inventory early in the year, a sign that demand is deep enough to absorb stock and still push prices higher.
Dr Powell adds:
“We’re already seeing momentum build in house prices thanks to multiple rate cuts. The big question is whether spring’s seasonal surge will add fuel to the fire.”
Why Spring 2025 could be a turning point
Put it all together and you have a fascinating setup:
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Rate cuts have revived borrowing power and buyer confidence.
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Supply dynamics are uneven, tilting markets differently across capitals.
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Clearance rates show buyers are active and ready to compete.
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Price momentum is already running strong.
If the usual spring surge in listings collides with reinvigorated demand, we could see one of the strongest spring markets in years.
For investors, this means bracing for heightened competition, but also recognising that well-chosen assets in undersupplied cities may accelerate in value.
Key takeaways for buyers, sellers, and investors
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For buyers: Expect more choice, but also more competition. Be finance-ready and decisive when the right property comes up.
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For sellers: Presentation and pricing strategy are critical. Spring delivers the most eyeballs, but you’ll also face the fiercest competition from other vendors.
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For investors: Watch city-specific supply trends. Melbourne and Hobart are tightening, while Sydney still offers deep stock — but both dynamics can work in your favour depending on strategy.
The bottom line
Spring always matters in Australian real estate.
But this year, with rate cuts amplifying demand, supply diverging across capitals, and momentum already building, it could matter more than ever.
As Dr Nicola Powell sums it up:
“Spring 2025 is more than just another seasonal lift, it’s a critical test of whether the housing market’s strongest seasonal patterns will combine with policy tailwinds to reshape momentum heading into the new year.”
In my view, this spring is not just about renewal; it’s about reset.
And those who understand the nuances of supply, timing, and competition will be the ones who benefit most.
