PropTrack data revealed a significant increase in property listings across Australia, giving home buyers more options in the lead-up to spring.
New listings in July exceeded the five-year average, with a 6.4% rise compared to the highest July figures over the past five years.
Nationally, new listings have grown by 12% over the past year.
See LinkedIn post here.
Certain regions saw a sharp rise in new property listings, with the Riverina region in NSW leading the way with a 41% increase since July 2023.
“This was the highest among all regions across the country and was more than three times the national rate of growth,” said Megan Lieu (pictured above), economic analyst at REA Group.
Other regions such as Launceston and North East (38%) and Perth-Inner (31%) followed closely behind.
Rising seller confidence, fueled by home price growth over the last 19 months and stabilised interest rates, has encouraged more people to list their properties.
“More sellers are hopeful they will successfully sell and achieve a profitable outcome,” Lieu said, leading to a nationwide surge in housing options for buyers.
With more people listing homes and a steady demand from buyers, competition is expected to rise during the spring season.
“The conditions in the market will ultimately depend on the availability of listings and the level of buyer demand,” Lieu said, as home buyers prepare for what could be a busy season.
Read the PropTrack analysis in full on the realestate.com.au website.
Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
