Brisbane listings fell by 6.3 per cent in April compared to March and active listings dropped by 3.4 per cent. Over the year, active listings fell by 13.8 per cent, reports realestate.com.au.
This showed buyers were still very active, according to REA Group director of economic research Cameron Kusher.
“With demand at heightened levels, residual stock for sale continues to be sold, reducing the active supply,” Mr Kusher said.
“Therefore, active listing volumes continue to drift lower highlighting strong demand.
“This demonstrates that despite rising prices and some steam coming out of the market, we are still seeing strong buyer activity.”
Last month, new listings nationally hit their highest volume since October 2019 and Mr Kusher said he expected price growth would continue but moderate somewhat over the coming months.
Capital cities were driving the new listing activity while regional markets were tapering off, with regional active listings the lowest they had been since 2016.
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