Australia’s property market showed renewed momentum in October, with new listings reaching their highest levels in a year and auction clearance rates remaining steady across the capitals, according to Domain’s October Market Insights.
Senior Economist Dr Joel Bowman said October was “a strong month for property, with high clearance rates and the highest new listings in a year, showing renewed seller confidence.”
He added that while buyers still face competition, “rising supply could start to tilt conditions in their favour.”
Auction clearance rates dipped slightly to 66.1 per cent but remain solid compared to the past two years.
Combined capital auction volumes reached a seven-month high, signalling growing activity even as increased stock placed mild pressure on clearance rates.
Sydney and Melbourne led the surge in supply, with Sydney’s new listings reaching a record high and Melbourne recording its busiest October in nearly four years.
Vacancy rates in both cities remain tight, at 0.8 per cent and 1.3 per cent respectively.
Brisbane, Adelaide, Perth, and Hobart also saw fresh stock rise, while Canberra recorded record-high total supply.
Hobart remains the most competitive rental market in the country, with a vacancy rate of just 0.2 per cent.
Days on market revealed mixed conditions: Adelaide recorded its fastest selling pace this year, while Sydney, Melbourne, and Brisbane saw longer selling times.
Overall, Domain said the data points to a confident spring market as more sellers return and buyers continue to compete.
