Australia’s property market has officially reached fever pitch, with desperate homebuyers throwing caution to the wind and stripping crucial conditions from their offers in a bid to secure a home.

Alarming new data from Loan Market Group reveals mortgage pre-approvals have skyrocketed to unprecedented levels across the nation, fuelling a cut-throat environment where buyers are making unconditional offers, exposing themselves to massive financial risks.

The data shows an astonishing surge in pre-approvals, with Melbourne’s eastern suburb of Ringwood leading the charge, rocketing by an astounding 500 per cent when comparing the third quarter of 2025 to the same period last year.

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