The budget has rattled confidence across the property market, and the early read-through is already showing in client behaviour and investor activity. What happens next will flow through to prices, rents and buyer decisions.

Existing clients:

• Confidence knocked, with many pausing or delaying decisions
• Slower deal flow pointing to softer short-term demand

New investors:

• Pipeline still settling, but new enquiry clearly cooling
• Sentiment turning cautious, reducing future investment appetite

Housing market outlook:

• Increasing talk of ~10% downside risk to values
• Supply-demand imbalance likely to intensify

Renters:

• Tight rental conditions set to worsen
• Rising rents as investor activity slows and supply tightens
• Rents surged ~8% in 2023, 4.8% in 2024 and 5–6% annually into 2025/26 Up 44% over the past 5 years → structurally higher cost base

Homebuyers:

• Potential price relief if values soften
• But offset by higher rents and ongoing cost-of-living pressure
• Timing decisions becoming more complex

Bottom line: Confidence has taken a hit — and when sentiment shifts this quickly, it doesn’t just impact prices, it reshapes demand, supply, and affordability across the entire housing market.

What to do next: If you’re unsure how this plays out for your situation — whether you’re buying, investing or renting — now’s the time to get clear on your position and options before the market moves further.

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