Sydney, Melbourne, Canberra Listings at Decade High

Three cities last month recorded the highest number of new listings they have had in more than a decade.

National new listings rose for the fourth time in the past five months, with Sydney, Melbourne and Canberra recording the most new listings in over a decade, according to the PropTrack Listings Report for August.

Australia-wide, new listings were 6.6 per cent higher over the month, but down a slight 0.7 per cent year-on-year, the first month since March 2024 that new listings nationally have not been greater than they were a year earlier.

However, August marked the 14th straight month in which new listings were higher year-on-year in Sydney and the fifth month in a row they were higher annually in Melbourne and Brisbane.

Capital city new listing volumes were 1.6 per cent higher year-on-year and were the highest they have been in an August since 2012.

Across the combined regional markets, new listings declined 4.7 per cent year-on-year.

Sydney, Melbourne, and Canberra recorded the greatest annual increases in new listings and total listings of the capital cities.

These markets recorded their highest number of new listings for an August since 2012, 2011 and 2004 respectively.

Proptrack listings August 2024

▲ Source: PropTrack

Total listings nationally were 1 per cent higher over the month and 4.5 per cent higher year-on-year.

Total listings have been higher year-on-year for 11 straight months.

PropTrack director of economic Research Cameron Kusher said the ongoing strong new listings environment has resulted in more choice for buyers.

“While the strong volume of new listings and total properties for sale is an indicator of seller confidence, it remains a key contributor to slowing home price growth,” he said.