Buyer activity is trending down but remains significantly higher than the long-term average, according to new home loans data from the Australian Bureau of Statistics.
Australians committed to $25.1 billion of mortgages in September, which was lower than the year before ($30.8 billion) but well above the long-term average ($18.5 billion).
Part of the reason property prices are falling in many parts of the country is because there are fewer active buyers in the market.
That presents an opportunity for people who are looking to buy, because they have less competition and less price pressure than this time last year.