Spring Listings Surge Ahead

Listings are beginning to rise in some capital cities as the Spring Selling Season takes hold according to PropTrack.

PropTrack senior economist, Eleanor Creagh, says the stronger new listings environment has resulted in more choice for buyers with the total number of properties advertised for sale having increased from this same period last year.

“Sellers in these markets are entering the spring season with a lot of competition from other sellers given the accumulation of total stock on market,” she says.

“This likely indicates that buyers in these markets will hold the upper hand as spring progresses and the number of new properties hitting the market continues to lift through spring.”

In Melbourne total listings have been sitting above historic average levels for the past year and were at their highest level since November 2018 in July this year - 24% above the previous record.

Across Adelaide and Perth, and in parts of west Brisbane, total listings are  up to 50% below the five-year average.