Australia’s spring selling season has surged ahead, with new data showing a wave of homeowners bringing properties to market to capitalise on strengthening prices and rising buyer demand.
The latest REA Group Listings Report shows new listings jumped sharply in October.
Nationwide, new listings rose almost 22% from September to October, with a stronger lift in capital cities (24%) than regional areas (17.5%).
Sydney recorded its highest October listings in a decade, with new stock up 20% month-on-month and 6% year-on-year.
Melbourne saw new listings surge almost 30%, marking its highest October result on record — and its busiest month since November 2021.
Angus Moore (pictured), REA Group executive manager of economics, said improving sentiment is driving sellers to act.
“We’ve seen some rate cuts, buyer confidence is relatively good, and expectations for home prices are very positive. That’s leading vendors to be a bit more confident in listing,” Moore said.
The influx of stock comes as buyer activity strengthens following three interest rate cuts and expanded access to the First Home Guarantee, which is helping more first-home buyers compete.
Peter Diamantidis, Ray White United Group director, said easing serviceability pressures are enabling movement.
“With rates coming down, what we find is there is more stock because people who were handcuffed because of serviceability and couldn't upsize now can,” Diamantidis told realestate.com.au.
Total available stock still remains tight, down 9.5% year-on-year nationally, as buyers continue to absorb listings quickly.
Perth, Brisbane, and Darwin remain the most supply-constrained, with total stock down 15%, 17%, and 38%respectively.
Australia’s median home value is now 7.5% higher than a year ago, with most markets at record highs and Melbourne recently surpassing its early-2022 peak.
Moore said rising prices and improved auction outcomes are encouraging more sellers.
“We’re seeing consistent price growth, and that’s probably given vendors some confidence too,” he said.
Ray Harb, Barry Plant Point Cook partner, reports intense spring activity in Melbourne.
“September and October were the busiest months I've had in 20 years,” Harb said. “There’s been a lot more activity with first-home buyers, more people upgrading and more confidence in the market.”
While Sydney and Melbourne led the surge, even larger monthly gains were recorded in:
Canberra: +42.4%
Adelaide: +36.6%
The strength across markets points to broad-based confidence ahead of summer.
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