- Both new and total listings are up nationally, year on year.
- Monthly figures saw a dip, however it is not uncommon.
- Sydney, Melbourne, and Canberra led the annual growth in new listings.
Listing activity in the Australian property market continues its recovery from 2022. Annually, new listings in Australia on realestate.com.au have risen 4.5% from last year, according to PropTrack’s latest Listings Report.
Across the capital cities, listings rose 5.9%, while the regions saw a 2.3% uplift.
Total listings were also up, with Australia recording a 1.6% rise, year on year, with regional areas up 8.5%; total listings were down 3.9% year on year across the capitals.
While listings rose annually, the nation recorded a dip in new listings from August. New listings in September fell 7.1% nationally, down 0.3% across the regions, and down 11% across the capitals.
Change in new and total for sale listings on realestate.com.au September 2023
|Region||Area||New listings||Total listings|
“After an unseasonably busy end to winter, the number of homes newly listed for sale dipped slightly in September compared to August, due to the impacts of school holidays and a long weekend in a number of states,” said PropTrack economist and report author, Anne Flaherty.
“Even so, it was a busier start to spring, with new listings picking up from 12 months ago and sitting 4.5% higher nationally.
“An improvement in seller sentiment is a key driver behind the annual rise in the number of new listings.”
Anne Flaherty, PropTrack
“This time last year, sentiment among both buyers and sellers was declining, with the market in the midst of one of the most aggressive series of interest rate hikes ever undertaken by the Reserve Bank.
“Interest rates are now largely predicted to have reached their peak, having held steady since July.”
“This has supported a recovery in sentiment which, according to realestate.com.au’s Residential Audience Pulse, has recorded a significant jump from the start of the year.”
Why did listings fall in September?
Spring is a typically busier time for the real estate market, however, a dip between August and September is not unusual.
“While spring is typically the most popular time of year to sell a property, it isn’t uncommon for fewer new listings to be seen in September compared to August, with this occurring during five of the past 10 years,” said Flaherty.
“October, in contrast, has consistently recorded a monthly increase in for sale listings over each of the past 10 years, an outcome that may be repeated this year with strong selling conditions in most markets.
“Property prices have climbed every month in 2023, recovering last year’s falls to reach a new peak in September. What’s more, the outlook for the property market remains strong, with interest rates likely at, or very close to, peak levels. Australia’s population is growing at record speeds which is driving increased demand for housing.”