New Listings Rebound After Easter Slowdown

New listings rebounded in April after the Easter slowdown as almost a third more properties went to market than a year ago.

Last month new listings were 38 per cent up on March, with the timing of Easter this year, as well as April 2023’s weakness, contributing to the lift, according to fresh data from PropTrack.

Across Australia, new listings were 32 per cent higher year-on-year last month.

But while it had been the strongest April for new listings since 2021, it was still lower that February’s figures.

Across the capital, new listings were up 40.4 per cent year-on-year, with new listings higher in each city.

In combined regional markets, new listings declined 4.3 per cent for the month but were 19.2 per cent higher year-on-year, with only regional NT recording an annual fall, down 10.8 per cent.

Canberra, Melbourne and Sydney had the largest rise in total listings during the past year among the capitals, PropTrack said, while Perth, Adelaide and Brisbane had the biggest falls.

PropTrack Listings Report, April 2024

▲ Source: PropTrack

PropTrack director of economic research Cameron Kusher said despite the increase in properties available for sale, other indicators “signal that buyer demand remains strong, such as median time on market declining and overall enquiries rising compared to a year ago”.

“As we move into the typically quieter winter period of the year for new listings, it will be interesting to observe conditions over the coming months.

“Many people were looking for interest rate cuts to occur later this year, which buoyed buyer and seller confidence.

“Although rate cut expectations have now pushed into 2025, they remain stable and at historically moderate levels.”