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Australia\u2019s property market had the busiest start to the winter in June despite the usual dip recorded from the previous month.\u00a0\u00a0<\/p>\n
According to PropTrack\u2019s latest report, while new listings in Australia declined by 3.5% over the month, they increased by 8.5% on a yearly basis in June.\u00a0<\/p>\n
PropTrack economist Angus Moore said the latest showing signals the busiest June for new listings in over a decade. \u00a0<\/p>\n
\u201cThe property market has had a strong first half of 2022 \u2014 there has been a brisk pace of new listings, with more new listings nationally across the first half of the year than during any year since 2015,\u201d he said. \u00a0<\/p>\n
\u201cWhile conditions are likely to slow a little as we continue through the typically quieter winter period, activity has remained robust in many markets.\u201d\u00a0<\/p>\n
Mr Moore said while selling conditions have started to temper after the hyped period between spring 2021 and early 2022, the drivers of activity remained strong, hinging on the low unemployment rate, the return of international migration, and the positive outlook for wage growth.<\/p>\n
\u201cAt the same time, buyers have had more properties to choose from in recent months \u2014 the wave of new supply coming to market over the first half of the year, particularly in Sydney, Melbourne, and Canberra, has lifted the stock available on market and eased how competitive conditions had been,\u201d he said. \u00a0<\/p>\n
This comes at a time when\u00a0house prices are falling across many cities<\/a>, which could continue as the impacts of the rate increases become more evident in the coming months. \u00a0<\/p>\n New listings in each capital and regional markets across states and territories varied, with the former reporting a 6.4% decline while the latter hit a 2.5% gain over the month. \u00a0<\/p>\n On an annual basis, capital cities reported 5.9% more new listings than last year, and regional areas recorded a 2.5% growth.\u00a0<\/p>\n All capital cities, save for Darwin<\/a>, recorded annual gains in new listings in June, with Hobart and Canberra reporting the biggest growth rates at 44.4% and 32.1%, respectively.\u00a0<\/p>\n Here are some other highlights:\u00a0<\/p>\n
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\n<\/ul>\n \u2014\u00a0<\/p>\n Photo by\u00a0@pavel-danilyuk on Pexels.<\/em><\/p>\n<\/p><\/div>\n
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\n alexandra hills<\/a>
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\n balga<\/a>
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\n berala<\/a>
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\n campsie<\/a>
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\n collingwood<\/a>
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