THE YEAR THE MARKET LEARNS HOW TO BREATHE AGAIN

For the last few years, property has felt like a person holding their breath.

Tight. Reactive. Nervous.

One headline away from either panic or euphoria.

But 2026 is shaping up differently.

Not loud.

Not explosive.

Not a boom.

Not a bust.

A recalibration.

And honestly, that might be the healthiest thing this market has done in a decade.

The Era of Easy Growth Is Over (and that is not a bad thing)

The last cycle was fuelled by urgency.

Cheap money. Pandemic movement. Fear of missing out.

Everyone was rushing.

Everything was “now or never.”

But markets cannot sprint forever.

What we are seeing now is a slowdown that feels more like a deep exhale than a crash. Prices are still moving in many places, but they are moving with intention, not adrenaline.

This is the phase where quality matters again.

There Is No “Australian Market” Anymore

If there is one myth worth letting go of, it is the idea that there is a single property market.

There is not.

There are hundreds.

Some suburbs are still quietly rising.

Some are treading water.

Some are catching their breath.

Apartments behave differently to houses.

Lifestyle suburbs behave differently to investor corridors.

Owner occupiers move differently to speculators.

National averages make great headlines, but they hide the truth.

Property is now hyper-local.

Your street matters more than your state.

Why Prices Are Not Falling Off a Cliff

Even with affordability pressure, the market is being held up by one stubborn truth:

We simply do not have enough homes.

Not enough land.

Not enough trades.

Not enough new supply where people actually want to live.

This does not mean prices will run wild.

But it does mean the floor is higher than many expect.

Scarcity creates resilience.

Borrowing Power Is the New Currency

The biggest shift is not emotional, it is mathematical.

Every rate change reshapes what buyers can afford.

Not what they want.

What they can actually borrow.

This is why some price points are still competitive, while others have gone quiet. It is not a lack of desire, it is a lack of capacity.

In this market, price ceilings are real.

And buyers are becoming more strategic, more patient, more selective.

The Market Is Not Cooling, It Is Growing Up

This is not the end of property growth.

It is the end of careless growth.

We are entering a phase where:

• Buyers ask better questions

• Sellers need better strategies

• Properties must stand for something

• And location, layout, light, and liveability matter again

This is not a numbers game anymore.

It is a lifestyle and value game.

So What Should You Do?

Do not chase headlines.

Do not time the bottom.

Do not wait for certainty.

There is no perfect moment.

Only informed ones.

If you are buying, buy well.

If you are selling, sell intentionally.

If you are holding, hold with clarity.

The market is no longer shouting.

It is whispering.

And the people who slow down enough to listen will make the best moves.

If you would like us to translate what this means for your building, your suburb, or your apartment, we are always here.

All the best, always,

The Ethel + Florence team :-)