By Julian & Renee (Australia) – with writing support from Alberto Aldana (Colombia)
Many buyers and sellers across Sydney and growing suburbs such as Blacktown, Schofields, Riverstone, Marsden Park, Kellyville, and Rouse Hill assume that an oil crisis automatically leads to falling property prices. From a conveyancing perspective, this assumption can cause hesitation or timing issues when entering into contracts. An uncertain market does not mean that contracts exchanges will freeze or pause. Vendors must still price realistically, purchasers need to confirm their financial position, and agents play a role in managing expectations. In fact, history shows that property often behaves very differently from what many expect.
A look back at the oil crisis of the 1970s provides useful insight into the 2026 environment. At first glance, the situation appears familiar:
- Peak inflation in the 1970s reached around 17.6%, forcing aggressive interest rate increases.
- Despite this pressure, house prices in Sydney rose sharply between 1973 and 1976, as buyers preferred property over holding cash.
- In 2026, inflation is rising again, and interest rates are expected to continue tightening.
- Compared to the 1970s, Australia now has significantly higher household debt, meaning rate rises impact buyers more severely today.
Supply is another key difference. In the 1970s, housing construction was stronger. Moving into 2026, construction is slowing as rising fuel and material costs create supply constraints, which can support prices even as borrowing becomes more difficult. Buyer preferences are also shifting, with increased demand for homes that reduce long-term costs. Properties near public transport or equipped with solar and battery systems are attracting attention in areas such as Norwest, The Ponds, Tallawong, and Box Hill.
The real risk for both vendors and purchasers is misunderstanding what higher prices actually represent. During the 1970s, property values appeared to rise strongly, but once inflation was considered, real growth was often flat or even slightly negative. In other words, owning property did not necessarily increase wealth, but it helped preserve value. A similar pattern may emerge in 2026. While prices may continue to rise in nominal terms, affordability is declining due to larger mortgages and higher living costs. Buyers who stretch their limits risk mortgage stress, while sellers may face longer selling periods as borrowing capacity tightens. Settlement delays or renegotiations may also become more common under financial pressure.
Flash Conveyancing is led by Julian and Renee, who facilitate property transactions across New South Wales. With extensive experience working with local councils such as Blacktown, Hawkesbury, Blue Mountains, The Hills, Hornsby, and Parramatta, they provide a personalised approach to each settlement. In changing economic conditions, making informed decisions is just as important as meeting legal requirements. Their client-focused approach aims to reduce risk and support successful outcomes, whether for a buyer in Kellyville Ridge, a vendor in Glenwood, or an investor in Windsor or Castle Hill.
Our team has a proven track record of working seamlessly with the Blacktown, Hawkesbury, Blue Mountains, The Hills Shire, Hornsby, and Parramatta councils.
North-West Growth Corridor: Marsden Park, Box Hill, Schofields, Tallawong, Riverstone, Gables, Melonba, Grantham Farm, and Angus.
The Hills District & Surrounds: Castle Hill, Kellyville, North Kellyville, Bella Vista, Baulkham Hills, Beaumont Hills, Norwest, Rouse Hill, Winston Hills, and Westmead.
Blacktown City & Established West: Blacktown, Seven Hills, Glendenning, Glenwood, Stanhope Gardens, The Ponds, Quakers Hill, Kings Langley, Parklea, Acacia Gardens, Arndell Park, Rooty Hill, and Doonside.
Hawkesbury & Lifestyle Estates: Dural, Middle Dural, Kenthurst, Glenhaven, Galston, Glenorie, Annangrove, Nelson, Cattai, Maraylya, Vineyard, and Windsor.
Parramatta & Emerging Hubs: Parramatta, Northmead, North Rocks, North Parramatta, Wentworthville, and St Marys.