The property market is easing into the new year with a surprising shift, and it’s not where many expected it to be. While January often signals renewed momentum in buyer activity, the first weeks of 2026 have instead delivered a noticeably softer start on the sales side, paired with a surge in leasing demand across the Sydney market.
In this week’s edition of Ewan’s Hot Take, Ewan Morton breaks down the early‑January trends shaping the market, why sales activity is quieter than anticipated, and what the spike in leasing enquiries tells us about tenant behaviour and broader market dynamics.
From seasonal patterns to shifting priorities, here’s what you need to know as the property landscape settles into its first phase of the year.
A Quiet Start for Sales in Early January
Historically, the property market tends to re‑energise shortly after the long weekend as buyers return from holidays and re‑enter the market with fresh intent. But this year is off to a noticeably different start.
Ewan highlights that buyer numbers remain lighter than usual across the first two weeks of January. While late 2025 finished on a slower note. Particularly through November and December many expected activity to bounce back quickly. Instead, the early indicators show a more measured return, with buyers taking additional time to regroup and reassess their plans for the 2026 market.
Still, January isn’t over and the coming weeks will reveal whether buyer interest rises as families settle back into routine, schools resume, and the pace of life normalises.
Leasing Demand Surges in Classic January Fashion
While sales may be soft, leasing is telling a very different story. Enquiries have surged in recent weeks, consistent with January’s long‑standing reputation as one of the biggest leasing periods of the year.
Many tenants avoid giving notice in December, preferring to hold onto their final paid‑up weeks to cover holiday expenses. As a result, the bulk of movement shifts into January, and we’re seeing that classic trend in full force again this year. With tenants returning from holidays, relocating for work, or simply resetting their housing plans for the year ahead, leasing teams are experiencing a strong and much‑needed upswing in activity.
Whether you’re buying, selling, leasing, or planning your next move, understanding the early‑year rhythm of the market is essential.
Follow Ewan’s Hot Take each week for timely updates, expert insights, and grounded commentary to help you make informed decisions throughout 2026.