Time to buy a home? New property listings bode promising start to spring

By Sophie Wong · · 2 min read
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A brown house with lots of flowers around the property to convey getting a home loan in Australia's spring.

Prospective homebuyers might expect a rise in new property listings, as auctions in the major capitals this week bloom ahead of spring.

According to CoreLogic’s auction market report, this year has seen a 17.5% increase in auctions held compared to this time last year.

Demand appears to be stronger too, with the clearance rate of property listings showing a weighted average of 65% across Australia’s capital cities.

With Sydney positioned to have the most auction activity this week, Brisbane might also be expecting a 32% uptick in selling action - the highest figure amongst the other capitals. 

So enthusiasm appears to be running high for vendors looking to score a property before the competitive selling season commences.

A window to buy a home in spring?

A window to buying a home in spring by using a home loan.

CoreLogic notes that we might continue to see an upward trend in auction numbers, meaning a strong supply of housing options for Aussies looking to buy. 

Current clearance rates (or the rate of homes sold) like those reported by CoreLogic can give both prospective buyers and sellers an idea of how much a property will go for as they look ahead.  

So as you conduct your own research, these stats might help you figure out how to time your purchase but also whether your city or suburb is overly competitive. 

However, if there are more houses for sale than there are prospective buyers in a given location, clearance rates tend to fall - potentially paving the way for cheaper property prices.

If you’re starting to think about buying a property, investigating your home loan options could be your next step. At present, the average variable interest home loan rate is 6.60% according to Mozo’s database. While rates appear on the higher side for the time being, some lenders are offering variable interest rates as low as 5.54% for a $400,000 home loan.

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Ready to take the next step in your home-buying journey? Why not check out a roundup of the best home loans our experts have tracked. Or you can start comparing some of the top home loan options below!

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Last updated 13 September 2024 Important disclosures and comparison rate warning*

Home loan comparisons on Mozo

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  • Unloan Variable

    • Owner Occupier
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.90 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

  • Neat Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.

  • Fixed Express Home Loan

    • Owner Occupier
    • Principal & Interest
    Interest rate
    5.99 % p.a.
    Fixed 2 years
    Comparison rate
    6.14 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Lock in a low 2 year fixed rate with the Mozo award winning Home Lender of the Year. Available for live-in borrowers with just a 10% deposit required. Free extra repayments (up to 20% in fixed period), free redraw and partial offset available. $10 monthly service fee. Aussie support centre. Fast approvals. Up to 6 free offset accounts (T&Cs apply).

  • 3 Year Special Fixed Home Loan

    • Owner Occupier
    • Principal & Interest
    Interest rate
    5.69 % p.a.
    Fixed 3 years
    Comparison rate
    6.16 % p.a.
    Initial monthly repayment
    $2,899
    Go to site

    This home loan is available for purchase or refinance, complete with 1, 2 or 3 year fixed rate options. Minimum 10% deposit required.

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

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