New Property Listings Rise 6.5%

The first half of 2022 has seen a noticeable increase in for-sale properties across Australia, with more new listings in the first six months than during any half-year since 2015, according to PropTrack.

Meanwhile, the number of new listings (defined as those less than 30 days old) in July was 6.5% higher than the same month last year.

Drilling down to the capital city level, seven of the eight capitals experienced year-on-year increases in new listings:

Adelaide listings in July were 27.0% higher than the year before

Hobart up 25.1%

Sydney up 18.2%

Melbourne up 5.9%

Brisbane up 3.5%

Darwin up 0.7%

Canberra down 3.3%

This is good news for buyers because the more properties there are on the market, the more choice and less competition buyers experience.

If you want to buy a property, it's important you contact me for a pre-approval before you begin the searching process. That way, you'll know your budget. Also, vendors will be more likely to approve your offer if they know you have finance in place.

For smart financial solutions contact Jason from Mortgage Innovations