‘Blind buying’: Expert criticizes Aussie property strategy

TV and property expert Andrew Winter has criticized Australia’s property strategy which he says is cutting out opportunities for everyone.

Compare Market has found the majority of Aussie home buyers were “buying blind” with new research revealing almost two-thirds of listings do not reflect the price.

Mr Winter called for greater price transparency amid the promotion for first home buyers.

“Many Australians trying to take advantage of the new first home buyer incentives are left in the dark wondering, is this worth it and under the price limit?”

The study found 63 per cent of a sample of 400 three- and four-bedroom property listings in Brisbane and Sydney did not provide a price indication to potential buyers – using common terms such as “agent contact”, “for sale” and “submit offer”.

Of the 37 percent of listings that displayed a price tag, they varied from offering an index price, price range or asking offer above or below a certain price.

Mr Winter said “enough is enough”.

“Lack of price transparency continues to be what is wrong with today’s Australian housing market, preventing buyers from buying properties easily and buying blind.”

“Australians have no way of telling in advance whether they can afford to buy a home when almost two-thirds of the sample listings analyzed by Compare the Market show no price index at all – unless they ask directly.”

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TV personality and Market expert Andrew Winter has also called for greater price transparency among the extended benefits of buying a first home. Image: Provided

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With Compare the Market’s 2025 Household Budget Barometer reporting that a single median income will cost 99 per cent of Australia’s metropolitan areas by September 2025, Winter said price transparency was essential to set realistic expectations.

“Homebuyers are losing confidence in the property market, while it’s unfortunate for sellers who may miss out on other good deals,” said Mr Winter.

“It’s like trying to buy a new or used car blindly when the price is blank until you walk into the showroom and ask the salesperson directly.

“At the same time, there is more pressure to buy when it may end up being completely unaffordable, wasting effort and time on both sides.

“If you were buying something else – a TV, a desk or a beer in a pub – you’d be surprised if the price wasn’t quoted.

“It’s time to stop playing price-fixing games and bring back the free market.

“Policy makers must ask: what will ensure a fair and transparent property market for both house hunters and property owners?

“We also want agents to sell properties clearly and transparently across Australia and remove any legislation that would prohibit this.”

Is it for sale? It’s anyone’s guess

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The call for price transparency comes after research revealed that house hunters on the median income were now being priced out of all areas of Brisbane.

“This research confirms a brutal truth – that the Australian dream of owning your own home is officially cut off from the average Australian income in many areas,” said Canstar.com.au data director Sally Tindall.

.“The gap between the income needed to buy in most housing markets and what Australians earn is widening.”

Canstar Data Insights director Sally Tindall. Image: provided

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In Sydney, buyers need about $300,000 a year to buy a median-priced house with a five per cent deposit.

The RBA, which meets this week, is also expected to raise interest rates in another blow to consumers and home owners.