October marked a decade-high for new listings in Australia’s capital cities, with a 20.9% month-on-month rise and a 14.0% increase from last year, according to fresh PropTrack report.
“Buyers across Australia enjoyed greater choice in October, with all markets recording a monthly jump in new listings and most markets proving far busier than at the same time last year,” said Cameron Kusher (pictured above), REA Group’s director of economic research.
Capital cities saw a combined new listing increase of 23.2% month-on-month and 15.2% year-on-year, outpacing growth in regional areas, PropTrack data showed.
Melbourne and Canberra reached record-high October listings, while Sydney recorded its highest October volume in nine years.
Brisbane and Hobart experienced their largest October listing volumes in six years, and Perth hit a decade high.
Increased listings have contributed to an 8.7% year-on-year rise in total listings, the highest since November 2020.
“Heightened levels of stock for sale afford buyers more choice and remove some purchasing urgency from the market,” Kusher said.
Sydney and Melbourne, in particular, are seeing favourable conditions for buyers, PropTrack reported.
Kusher suggested that recent price gains may have encouraged homeowners to upgrade, while high interest rates might be prompting others to sell, creating a balanced dynamic between buyers and sellers across major cities.
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