As Spring blooms in Newcastle, the local real estate market has seen a surge in activity, particularly for homes under the $1 million mark.
At LaneCampos, our team has experienced record-breaking months with a strong uptick in property listings. Homeowners are taking advantage of the seasonal market boost to make their Spring move. However, while demand remains strong, we’ve noticed some unique buyer behaviour that has made the market a bit unpredictable.
Record Listings at LaneCampos in Newcastle
LaneCampos has kicked off August and September with exceptional results, achieving a 31% increase in property listings compared to the same time last year. We’re seeing as many as 6-8 new properties hit the Newcastle market each week, reflecting the strong confidence of sellers in our local real estate market.
Auctions and Smart Selling Programs Lead the Way
While auctions continue to deliver successful outcomes, there’s been a noticeable shift in buyer behaviour. Post-auction negotiations have become more common, as some buyers take extra time to finalise deals. In contrast, our structured ‘For Sale’ programs are gaining popularity. This method involves a clear calendar of open homes and set offer deadlines, giving both buyers and sellers a transparent path toward a successful transaction. This option provides peace of mind for sellers seeking the right buyer and for buyers keen on securing their dream Newcastle property.
Interesting Shifts in Buyer Behaviour in Newcastle
One of the most intriguing trends we’ve observed is buyer behaviour in the $1M+ price bracket. Traditionally, buyers stayed within their budget range when exploring open homes, but now we’re seeing them look at properties both slightly above and below their target price. Additionally, many buyers are placing offers on multiple properties—sometimes within the same agency—making the negotiation process more complex for sellers and agents.
On the other hand, some buyers are hesitant to make offers, even when they find a property they love, preferring to wait and see how the market evolves. Whether this cautious approach is wise or risky remains to be seen.
What to Expect in Newcastle’s Real Estate Market
As we move further into Spring, a sense of uncertainty looms in Newcastle’s property market. With mixed economic forecasts and fluctuating open home attendance, both buyers and sellers are feeling the pressure of unpredictable market conditions. For anyone considering buying or selling in Newcastle, it’s important to stay focused on personal motivations rather than market speculation.
While the future of the Newcastle real estate market may seem uncertain, one thing remains clear: aligning your property decisions with your long-term goals will always lead to better outcomes.