Listings are starting to lift with some locations now at higher levels since the start of the pandemic, according to PropTrack analysis. Its latest listings report says there is a 7.9% increase nationally in listings between 2023 and 2024 – the strongest year since 2021.

PropTrack director of economic research Cameron Kusher says the lift is fuelled by a few factors, including that sellers are taking advantage of the strong price gains they have made in recent years. “At a national level, many homeowners who hadn’t moved or upgraded in some time took the opportunity to do so, leveraging the substantial equity gains in their properties over recent years,” Kusher says.

Year on year, Kusher says total listings are up by 6.7% across the combined capital cities and 4.7% across the combined regional centres. “Capital city prices have increased substantially, making them less accessible for many buyers – in contrast, regional markets remain relatively affordable, which has kept demand metrics stronger there,” Kusher says.