When Sydney home owners Nicky Dhillon and Elise Lee decided to sell their house in East Killara, in Sydney’s upper north shore, they knew they would be selling in a slower market. But they also knew the softer demand would make it easier for them to buy a bigger property.

“I think the market is a bit weak at the moment, so maybe it’s not the best time to sell, but it’s certainly a good time to buy a bigger house because you have less competition from other buyers,” Mr Dhillon, an IT professional, said.