Prospective home buyers can expect a busy Spring season.
New listings in July surged, with Sydney seeing a 6.9% month-on-month increase and a 12.3% rise year-on-year, according to the latest PropTrack Listings Report.
Sydney was among the three capital cities with the largest increase in total listing volumes over the year with a 17.4% rise.
Two Sydney regions, Sydney – South West and Sydney – Outer West, made PropTrack’s top 10 areas for the largest annual growth in new listings.
“A relatively busy Spring selling season is on the cards, so there will probably be even more choice for buyers as the [selling season] unfolds, although there’s going to be more buyers active in the market too,” said PropTrack senior economist Eleanor Creagh.
More choice increases homebuyers’ chances of finding the right property. It also means less competition, which can put downward pressure on prices making them more affordable.
