Total supply also hit a three-month high, continuing an 11-month streak of annual growth, though at a slower pace compared to late 2024.
Sydney led the way, with new supply at a four-month high, marking the highest February level on record and 20 consecutive months of annual growth.
Total supply also increased, hitting a four-month high and the second-highest February level recorded.
Auction clearance rates saw the largest monthly rise among capital cities, though they remained lower than a year ago.
Auction volumes were at a three-month high but lower annually.
Days on market for houses increased for the fifth consecutive month, reaching its highest level since October 2020, while unit sales slowed, with days on market at the highest level since February 2024.
In Melbourne, new supply reached a three-month high, though February listings were still lower year-on-year.
Total supply, however, hit a record high, marking the 17th consecutive month of annual growth.
Auction clearance rates improved to their highest level since July 2023, making Melbourne one of only two capital cities to record both monthly and annual gains.
Auction volumes increased over the month but remained lower than previous years.
Days on market for houses climbed for the fifth consecutive month, reaching the highest level since December 2020, while unit sales also slowed, with days on market at its highest level since March 2023.
Brisbane recorded a four-month high in new supply, with 11 consecutive months of annual growth.
Total supply also increased for the eighth consecutive month, though February still ranked as the second-lowest on record.
Brisbane was the only capital city to record both monthly and annual declines in auction clearance rates. Auction volumes reached a three-month high, though they remained lower year-on-year.
The number of days properties spent on the market increased, particularly for units, which recorded their longest selling time since March 2023.
Discounting trends varied, with houses maintaining historically low discounting levels, while unit discounting rose for a third consecutive month.
Adelaide saw new supply rise for the first time in four months, reaching its highest February level since 2019.
Total supply also increased but remained the third-lowest on record for February. Auction clearance rates rose slightly but remained lower than a year ago.
Days on market figures remained historically low, with houses on par with December 2024 and at their lowest February level since 2003.
Perth experienced a three-month high in new supply, but annual figures declined for the first time in six months.
Total supply rose but remained the second-lowest February level on record.
Houses and units both recorded an increase in days on market, with unit sales taking the longest time since September 2023.
Despite this, Perth continued to post some of the lowest discounting levels nationally, with unit discounting at its lowest since 2006.
Domain’s data also suggested buyer enquiry levels increased in February, particularly in Sydney, where a month-on-month spike followed the recent cash rate cut.
While affordability concerns persist, new supply and auction activity suggest buyers and sellers are becoming more active in the current market environment.
