Sellers are embracing the spring selling season, with new property listings in September 2024 reaching their highest volume since 2015.
“The lift in new listing volumes continued in September with all major capital cities and most other markets recording a year-on-year increase,” noted Cameron Kusher, PropTrack’s Director of Economic Research.
Sydney and Melbourne, in particular, saw the highest number of new listings for September since 2015, while Brisbane’s numbers were the highest since 2018, and Canberra recorded its strongest September since 2004.
“New listing volumes have now been higher year-on-year in Sydney for 15 consecutive months,” said Mr Kusher, with consistent increases across Melbourne, Brisbane, Adelaide, and Perth.
This surge has provided buyers with more options, contributing to a rise in total listings – up 7.7% in capital cities and 5.2% in regional markets.
“The strength in new listings is giving buyers more choice and leading to a rise in total listings.”
The statistics speak for themselves. Nationally, new listings in September were 2.8% higher than the previous month and 10.1% higher year-on-year, marking the strongest September for new listings since 2015.
This trend of growth has been seen across both capital cities and regional areas, with capital cities seeing a 13.7% rise and regional markets growing by 4.4%.
Total listings, meanwhile, were 2.1% higher month-on-month and 6.5% higher year-on-year, reaching their highest level since November 2023.
Key State-Level Highlights:
- Biggest increases in new listings (year-on-year) in September:
- Canberra: +19.8%
- Sydney: +17.9%
- Perth: +17.7%
- Declines in new listings:
- Darwin: -18%
- Hobart: -1.6%
- Total listings growth:
- Canberra: +23.7%
- Sydney: +16.5% (highest since March 2019)
- Melbourne: +16%
- Declines in Brisbane, Adelaide, Perth, Darwin
- Regional highlights:
- Biggest gains: Regional Queensland (+8.5%), NSW (+6.1%), WA (+2.3%)
- Declines: Regional SA (-4.3%), Tasmania (-7%), NT (-39.8%)
- Stock falls: Regional WA (-15.2%), Queensland (-6.9%)
- Stock rises: Regional Victoria (+19.6%), NSW and Tasmania (+11.6%).
