26 Aug
There’s no shortage of headlines telling us the property market has slowed. And there’s no question conditions have changed. But real estate has always moved in cycles – and in a softer market, the relationships we build and nurture become more important, not less.
As we head into spring, industry data gives us a useful picture of what is actually happening. Drawing on more than 1.2 million consumer enquiries across tens of thousands of active listings nationally, PropIC’s latest Consumer Enquiry Performance snapshot shows average enquiries per listing have declined from 23.8 twelve months ago, to 17.1 six months ago and 11.5 over the past 90 days.
In stronger markets, confidence and activity rise and more people engage with property – including plenty who may not ultimately transact. In softer periods, enquiry volumes naturally contract. That doesn’t mean opportunity disappears; it means what we do with every enquiry matters more.
The national number only tells part of the story. Over the past 90 days:
- NSW remains the clear leader, averaging 17.8 enquiries per listing – 55% above the national average.
- WA is also performing strongly at 14.6, climbing from third nationally over the 12-month period to second.
- Queensland, meanwhile, has fallen from second to fourth, averaging 10.8 enquiries per listing.
- Victoria and Tasmania remain at the lower end of enquiry volumes, averaging 6.4 and 6.0 enquiries per listing respectively.
The data helps us understand the market we’re in and respond accordingly. In a tighter market, that means getting back to some old-fashioned real estate fundamentals: knowing your buyers, having better conversations, building trust and nurturing people through the cycle.
Because ultimately, success isn’t about how many leads sit in the funnel. It’s about what you do with them. Markets will always move through cycles. The relationships we build through them are what endure.
We’ll be sharing more of this data over coming months to help inform your strategy.
Future-Proof Podcast: Episode 3 – Don’t wait for the perfect time
Financial markets are uncertain by nature. Interest rates move, inflation changes and global events can quickly shift sentiment.
So what does that mean for the way we think about our super?
In the final episode of our Future-Proof series with REI Super, Sadhana Smiles is joined by Vanessa Rader, Head of Research at Ray White, and Chris D’Astoli from REI Super to talk about financial uncertainty – and why reacting emotionally to every headline can sometimes do more harm than good.
We also look at some of the financial gaps that can build quietly over a woman’s working life, from career breaks and changing family circumstances to multiple super accounts, outdated insurance and simply putting financial planning off until later.
The message from Vanessa and Chris is refreshingly practical: financial confidence doesn’t start when you reach a particular bank balance. It starts with understanding where you are now, knowing your options and taking the next step.
Because there may never be a perfect time to start – but time itself can be one of your greatest assets.
Two days to step outside the day-to-day
One of the challenges in real estate is finding the time to get out of the business long enough to think about the business and build your connections.
That’s part of the value of bringing the industry together. On 8–9 September, BizRE will bring together more than 21 speakers across two days to explore leadership, strategy, culture, growth and what high performance looks like in today’s environment.
For REIP members attending, your ticket also includes the RISE Leadership Breakfast with four-time Olympian and triple Olympic gold medallist Drew Ginn OAM.
Drew will share what a career at the highest level of elite sport taught him about leadership, resilience, performance and continuing to move forward under pressure – lessons with plenty of relevance for our industry.
If you’re planning to attend, REIP members can also save $100 on the current BizRE ticket price using the code RISEVIP.
REIP
Real Estate Industry Partners
