The spring selling season appears to have started early with new listings growing 9.4 per cent across Australia in August.
According to the Ray White Listings Report, buyers had significantly more choice than in July, with 27,342 new listings in the combined capital cities last month.
Canberra led the way with a 31.2 per cent rise in new listings, followed by Darwin with a 26.5 per cent climb, month-on-month.
New listings in Melbourne rose 17.2 per cent or by 8710 properties, while in Sydney, 8398 new homes came to market, which is equal to an 11.6 per cent jump compared to the previous month.
Ray White Group Data Analyst William Clark said the data showed new listings were strong.
“While this year still has not seen listings rise to the levels seen last year, it appears the traditional spring selling season has begun early,” he said.
“Month-on-month comparisons were favourable across much of the country, with Melbourne and Sydney reporting large growth in new stock levels.
“All major cities saw growth from the month of July, a sign of just how strong the trend was nationally.
“Typically, August and July are quiet months, with the first pick up in listings in September. This year it appears as though the spring selling season kicked off early.
“The second half of 2022 saw new listings remain flat and buyers will be encouraged that this is unlikely to be the case this year.”
New listings also climbed in Perth, Adelaide and Brisbane in August, up 6.8 per cent, 4.2 per cent and 2.2 per cent respectively.
In regional Australia the story was similar, with regional Tasmania leading the way with a 17.2 per cent rise in new listings.
This was followed by regional Victoria (8.2 per cent), regional Queensland (5.9 per cent) and regional NSW (5.6 per cent).
Regional areas in the Northern Territory, Western Australia and South Australia all recorded drops in new listings month-on-month.
Mr Clark said Ray White listing authorities had largely held steady.
“Authorities are seen as a strong lead indicator for future listings, with a lead of about a week before authorities become visible on the market,” he said.
“Authorities did not increase in August as they had in July, though new listings could still increase if more authorities are converted into published listings.”
Top growth and decline suburbs
In Sydney the top growth suburbs were Tallawong and Colebee, which saw new listings jump 275 per cent and 233 per cent year-on-year, respectively.
At the opposite end of the scale Pemulwuy recorded the largest drop in new listings, down 88 per cent, followed by Cobbitty with a 63 per cent drop.
Travancore chalked up the highest growth in new listings, year-on-year, at 133 per cent, while Box Hill South recorded a 58 per cent decline.
Waterford recorded the largest year-on-year increase in new listings in Brisbane, climbing 80 per cent, while St Lucia posted a 77 per cent drop.
Banksia Park followed its Sydney cousins with a 200 per cent increase in new listings, year-on-year, while Aberfoyle Park had a 74 per cent decrease.
In Perth, Forrestdale posted the largest increase in new listings compared to the same time last year, up 175 per cent.
At the other end of the scale, Waikiki had the biggest fall, with new listings dropping 70 per cent.
Battery Point recorded a 75 per cent rise in new listings, while Sandy Bay had the biggest drop, with a 38 per cent fall.
The new listings market in Darwin remained much tighter, with Parap posting the largest increase, year-on-year, at just 25 per cent, while Bakewell had the largest fall, at 73 per cent.
Harrison recorded a 175 per cent rise in new listings, while Mawson saw a 64 per cent drop.