Excerpts from June 5 [article](https://www.domain.com.au/news/sydney-home-listings-hit-17-year-high-melbourne-reaches-12-year-peak-as-buyers-gain-power-1522460/) by Sue Williams:

\[...\] *Domain chief residential economist Dr Nicola Powell says we’re steadily moving into a buyers’ market.*

*“We’re starting to see a real shift in the market, both in how sellers are behaving and how buyers are responding,” she says. “Listing activity is seasonally strong for this time of year, which suggests some sellers are bringing their homes to market earlier, likely to get ahead of a further slowdown in price.*

*“Meanwhile, buyers aren’t moving with the same urgency because they’re more cautious, have more choice, and are taking longer to commit. We’re already seeing this shift in buyer behaviour reflected in the data, with softer clearance rates, and more properties being withdrawn as sellers adjust expectations.”*

*\[...\] “Overall, we’re moving through a clear inflection point. Supply is rebuilding, buyers are regaining some power, and that sense of urgency that defined the market over the past few years is starting to ease.”*

*John Bongiorno of Marshall White says seasonal influences are also boosting supply, as a final autumn burst before the school holidays. “The King’s birthday long weekend is always busy,” he says.*

*Even in Sydney’s wealthiest areas, people have been affected by rising costs and interest rate hikes, says Vicki Laing of Laing Real Estate. “I was talking to a dentist in Paddington, who says customers are now putting off coming in for a clean and check-up. People are hurting.”*

Sydney home listings hit 17-year high, Melbourne reaches 12-year peak as buyers gain power