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Ray White’s May 2026 national sales data revealed residential sales values were down just 6 per cent compared to May 2025, despite what many industry observers described as one of the most turbulent market environments in recent years.
The month was shaped by federal budget announcements, ongoing interest rate uncertainty and continued geopolitical instability, all of which were widely expected to weigh heavily on buyer confidence and transaction activity.
Sales activity eased compared to last year, however the strength in overall sales value suggests buyers remain engaged and are continuing to transact with confidence when the right opportunities present themselves.
More notably, Ray White recorded a 6 per cent increase in residential sales value between April and May this year, with May outperforming April despite the broader economic headwinds. Transaction numbers also remained steady month-on-month.
Thomas McGlynn, CEO - Performance and Value at Ray White said the figures highlighted the adaptability of the Australian property market.
“One of the biggest surprises in the market right now is how resilient it has become,” Mr McGlynn said.
“If you had told most people at the beginning of 2026 that buyers and sellers would be navigating significant tax reform, interest rate uncertainty and an overall cautious consumer environment, many would have expected the market to slow much more dramatically than our numbers suggest.”
Mr McGlynn said the data pointed to a market that was continuing to function despite external pressures.
“What we're actually seeing is a market that continues to adapt,” he said. “Ray White residential sales value in Austarlia increased from April to May and despite all the uncertainty, sales volumes remain only 6 per cent below this time last year at $6.25 billion. That speaks to a level of resilience that many people underestimate about the Australian property market.”
The figures suggest many buyers and sellers are continuing to transact despite elevated economic uncertainty, with market conditions proving more stable than anticipated earlier in the year.
