The property market is shifting towards a buyers' favor this winter, despite a national decline in total listings by 7% since mid-April, which typically indicates a slowdown in the winter season.

According to Cotality data, total property listings in Australia have decreased by 7 percent since mid-April, marking the beginning of the winter slowdown.

However, a shift in the property market is occurring, favoring buyers in several high-demand suburbs as winter sets in, contrary to the usual seasonal trend of declining listings.

Some areas, such as Melbourne's Bayside, have seen an increase in listings, suggesting a potential buyers' market.

The Bayside area, home to affluent suburbs like Brighton and Sandringham, has experienced a rise of 52 homes for sale, with a median property value of $1.67 million.

In Sydney's Bankstown region, listings have also increased by 42 homes, with a median value of $1,346,000, indicating a similar trend in a million-dollar market.

Owen indicates that these million-dollar markets have not reacted strongly to recent cash rate cuts, possibly due to ongoing economic uncertainties.

Eliza Owen, head of Australian research at Cotality, notes that high-end markets have reacted subtly to cash rate cuts, indicating a mix of buyer sentiment and market dynamics.

Areas with many units, such as Parramatta and Bankstown, are struggling with falling values and increased listings, potentially skewing market dynamics in these regions.

Certain market segments below $1.7 million are performing well, while properties above $2 million are selling slower due to a smaller buyer pool.

Concerns about the geopolitical environment and tariff uncertainties are making buyers hesitant to commit to purchases, despite some price increases for desirable homes.

Overall, the current market conditions offer buyers more choices and negotiating power, suggesting that it may be a favorable time for buyers ready to make a purchase.