Benn Dorrington, Industry Editor and Analyst
First published 29 Oct 2026, 10:43am
Homeowners wanting to upsize to a bigger home in Brisbane, Adelaide and Perth have the most favourable conditions in years, experts say, despite cooling property conditions around the country.
After years of surging competition and home price growth, conditions in Brisbane, Adelaide and Perth are shifting to a more balanced market between sellers and buyers.
The number of homes for sale has grown substantially across those cities in recent months, as homeowners try to sell up and cash in those price gains.
The numbers show it all: new home listings in September were up 10.6% in Brisbane, 27.7% in Adelaide, and 19.6% in Perth compared to 12 months ago, according to realestate.com.au.
More homes are sitting on the market longer too, with the total number of properties for sale rising by 38.9% in Brisbane, 43.5% in Adelaide, and 35.8% in Perth, compared to a year ago.
It comes as buyers become more selective due to interest rate hikes, record-high home prices, and cuts to tax benefits for property investors .
Eleanor Creagh, senior economist at realestate.com.au, said homeowners looking to upgrade to a bigger place were seeing a meaningful improvement in choice in those cities.
Homeowners looking to upsize in Brisbane, Adelaide and Perth have more choice. Picture: Getty
“For homeowners looking to upgrade, conditions in Brisbane, Adelaide and Perth are becoming considerably more favourable than they have been for some time," she said.
"With more homes to choose from, properties taking longer to sell and prices falling, upgraders have much more scope to negotiate."
In recent years, homeowners looking to upgrade to a bigger property in Brisbane, Adelaide or Perth had an easy time selling a home but found it tougher to buy amid the heightened competition.
While sales activity has cooled lately, it certainly hasn't stopped, and buyers are still out and about in these markets.
Hayley Van de Ven, real estate agent and chief executive of the REMAX Locate group in Brisbane, said buyers were still active but were more discerning.
"We are seeing an increase in listings and days on market, but we're also seeing homes that are priced fairly not sitting for long," Ms Van de Ven said.
"Buyers still recognise value, and they appreciate a well-appointed and well-presented home."
Real estate agents say there's an advantage for homeowners moving up the property ladder due to some expensive locations that have seen larger price falls than more affordable areas.
The total number of homes for sale in Brisbane in September was 38.9% higher than a year ago. Picture: Getty
When it comes to moving, homeowners naturally want to make sure they are getting the best bang for their buck.
Home price growth has been slowing across the country, with Brisbane, Adelaide and Perth recording annual price growth between 4-7% for the year to September.
But it comes off the back of years of supercharged price growth, with home prices in those cities more than doubling over the past decade.
Zoran Solano, buyer's agent and president of the Real Estate Buyers Agents Association of Australia (REBAA), said it was time for buyers to take action.
"This is the market many buyers have been asking for, and now the opportunity is here to potentially buy for a more conservative price than earlier in the year," he said.
Mr Solano also warned buyers not to take too long to make a decision.
"If you're selling in order to buy, try and buy and sell in the same market - 'waiting' for the market to drop further after selling your current home could leave you in the dust if the market starts to turn," he said.
"I have already seen some evidence of the tide turning as pent up demand from the past few months starts to take action and it's that increased buyer activity that could send these markets back into upward motion."
Adelaide home prices have more than doubled over the past 10 years. Picture: Getty
Ms Creagh also cautioned homeowners looking to upgrade to be careful of timing.
“Homeowners who commit to purchasing before selling could find themselves carrying two properties for longer than anticipated, potentially at a time when mortgage rates are higher and prices remain under pressure," Ms Creagh said.
"For those with secure finances, sufficient equity and flexibility around the timing of their move, the improvement in choice and negotiating conditions could make this an attractive time to upgrade.
"But at the same time the softer market can be a double-edged sword in terms of concessions they need to make when selling."
Homeowners looking to upgrade to a more expensive home also need to have their finances in order.
Households looking to upgrade in these cities may have much more equity in their properties than they did even just a few years ago, but they still may need to refinance.
Buyers also have to be mindful that borrowing costs have increased significantly this year after four interest rate hikes from the Reserve Bank so far this year.
Hope Coumbe, finance editor at realestate.com.au, said prospective buyers needed to do their homework when it came to costing an upgrade.
"It’s crucial buyers understand both the timeframes they need to be mindful of and the different options available in the market that could best fit their circumstances," Ms Coumbe said.
"If a buyer is taking on more debt, having borrowing capacity assessed early is essential, along with considering whether or not bridging finance will be needed."
Ms Coumbe said finance professionals such as mortgage brokers could guide a buyer through both the options with their existing lender, as well as competitive rates with others.
"No two home ownership journeys are the same, so upgrading is also a good time to consider what loan features are most important in the next chapter," she said.
"This includes options like offset accounts, rate reviews, the ability to overpay or redraw, and different flexibilities for repayments."
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