Record spring listings could signal a shift to a buyer's market in Canberra

Canberra’s property market has roared into the spring selling season as a record number of new listings hit the market, new data from Domain reveals.

The surge in supply has created a dynamic auction market.

While the monthly clearance rate dipped to 61.6 per cent in September, Canberra recorded the largest annual jump of any capital city, up 13.1 percentage points from last year.

Auction volumes also hit a four-month high last month, representing the second-highest on record for September; however, performance varied wildly across the territory.

Weston Creek boasted an extraordinary 95 per cent clearance rate (up more than 30 per cent), while Gungahlin and South Canberra both lagged at 48.9 per cent.

This has resulted in a push-and-pull between buyers and sellers.

Home owners are holding firm on price, with discounting for houses falling to a four-month low.

Buyers, however, are showing more patience, as the typical time a house sits on the market has increased to its highest point since April 2024.

The time it takes to sell a unit decreased in September, but it remains high for this time of year, marking the slowest September for sellers since 2020.

Underpinning the market is a clear sign of stability, with the number of distressed listings falling to its lowest level since January 2022.

Meanwhile, the rental vacancy rate increased to 1.3 per cent last month – the highest monthly figure since January 2025 – but it remains the lowest September reading in three years.