Just 20 properties sold during September, compared with 30 sales in September 2025, highlighting the significant reduction in transaction volumes across the suburb. The auction clearance rate remained steady at 45%, broadly in line with last month.
 

While lower sales volumes can initially suggest softer demand, the bigger story is the lack of properties coming to market. Across Sydney, total listings have recently been reported to be down 20.4% year-on-year, despite the traditional spring increase in stock.
 

For Caringbah South, this limited supply means buyers who are active have fewer opportunities to choose from, while properties that are well-positioned, well-presented and correctly priced can still attract strong attention.
 

The Reserve Bank increased the cash rate by another 0.25% during September to 4.60%, taking rates to their highest level since 2011.

Higher borrowing costs are naturally making buyers more selective and placing greater importance on value. This means the gap between a property that is correctly positioned and one that is overpriced is becoming increasingly important.
 

What happens next?
 

With interest rates higher and the possibility of further increases still being discussed, many potential sellers are choosing to sit tight and wait for greater certainty. But properties don't stay off the market forever.
 

As we move through the final months of 2026 and into 2027, we are likely to see more owners decide it is time to make their next move, whether upgrading, downsizing, relocating or selling an investment. That could bring a meaningful increase in stock after one of the quieter periods we have seen for new supply.
 

What does this mean for buyers and sellers?
 

For buyers, waiting for more stock doesn't necessarily mean waiting for cheaper property. The current environment provides more time to assess and negotiate, but genuinely desirable properties remain constrained by limited supply.
 

For sellers, the current lack of competing stock is worth paying attention to. There is no guarantee today's conditions will remain once more properties enter the market.
 

The opportunity isn't simply to list and expect the market to do the work. Correct pricing, strong presentation and maximum exposure will be critical in converting today's limited pool of active buyers into competition.
 

The bigger picture
 

September wasn't a month of high transaction volumes. It was a month that highlighted how tightly held the Caringbah South market has become.
 

20 sales compared with 30 last September.
45% auction clearance rate, broadly consistent with last month.
Higher interest rates.
Limited new stock.
 

The next phase will be about whether more owners decide to release their properties, and how buyers respond when that stock arrives.