March reflected a measured shift in market momentum, with auction clearance rates softening to an average of 54.6%, down from 64.6% in February. Sydney and Melbourne eased to 57%, Brisbane to 49%, Adelaide to 59%, and Canberra to 51%, indicating a more selective buyer market.

Rental fundamentals remain strong, with vacancy rates still historically low across key capitals, including Sydney at 1.1%, Melbourne 1.4%, Brisbane 0.8%, Adelaide 0.7%, Perth 0.6%, Hobart 0.4%, and Canberra 1.1%. This continues to support tenant demand and investor confidence.

The cash rate sat at 4.1%, CPI at 4.6%, and consumer confidence at 84.96%, suggesting households remain cautious while monetary conditions stay restrictive.

Overall, the market is recalibrating rather than declining. Demand is becoming more selective, but tight rental conditions and continued home value growth point to ongoing resilience in well-positioned assets.