While we typically see an increase in new listings during this time, Aussie sellers have yet to come out in full force.
“You’ve got about 120,000 properties on the market for sale right now, whereas usually this time of year, the five-year average would be 150,000,” Cotality head of research Eliza Owen told the ABC, speaking of the national market.
“So rising demand against tight supply is continuing to see a rise in home values.”
On the demand side, buyers have got their skates on and are ready to roll.
“You’ve got more demand in the housing market, with real wages growth up to its highest level in five years, lower interest rates and more consumer confidence aiding housing purchases,” she said.
This combination of factors means now is a great time for sellers to put their home on the market.
We’re seeing strong interest for new listings across the board and are expecting to see first time buyers add to the activity as the Home Guarantee scheme lifts Brissie price caps to $1 million in October.
This will of course boost competition in the sub-million-dollar range but is likely to see some spillover demand into million-dollar-plus market too.
Thinking of making a move? Find out how much your property is worth or talk to us about selling.
