Australian property market records an over 20% rise in new listings across August 2023

New listings rose by 21.9% MoM across the capital cities. Total listings rose by 8.1% MoM for the capitals. Nationally, new listings rose 4.1% YoY.

Australia’s real estate market has seen new listings leap by 20.5% month-on-month (MoM) in August 2023, according to PropTrack’s latest listings report.

This latest rise helped to round out an unseasonably strong winter this year. According to Ray White earlier this year, new listings had already started picking up in July but remained below 2022 levels. An uptick was also observed in PropTrack’s July listings report.

New listings also rose year-on-year (YoY), up 4.1% compared to the same time last year. The report noted it was the first positive YoY change since August 2022.

“After a quieter first half of 2023, property market activity appears to be picking up in Sydney and Melbourne, with both markets busier than typical in August. Activity in many other capitals has also increased but remains subdued compared to a year ago,” said PropTrack senior economist and report author, Angus Moore.

“Activity is likely to continue increasing over the spring selling season, reaching the typical peak in October and November.”

Angus Moore, PropTrack

“Selling conditions and home prices have also improved compared to late 2022. Home prices nationally have continued to recover, posting their eighth consecutive month of growth in August. Home prices nationally are now just 0.8% below the March 2022 peak.”

“Auction clearance rates remained solid through winter and have improved from the levels recorded in late 2022.”

The auction market also recorded boosts to the number of homes heading under the hammer in winter, with the out-of-season trend noted by CoreLogic across some weekends.

Change in new and total for sale listings on August 2023

Region Area New listings

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