JUMP IN NEW PROPERTIES FOR SALE GIVES HOMEBUYERS MORE CHOICE

A surge in new properties for sale so far this year is giving homebuyers more choice and taking some of the heat out of the strong seller’s market.

January and February marked the busiest start to the year for new listings in Australia’s capital cities since 2014, in terms of the number of properties newly advertised for sale on realestate.com.au.

PropTrack economist Angus Moore said the record levels of new supply coming to market in the final months of 2021 and the busy start to 2022 had helped give buyers more choice.

Mr Moore said the latest PropTrack Listings Report showed there was now a little less urgency for buyers and the conditions were not as competitive as late last year, when there was limited stock on the market and very high demand. “We’re still in a seller’s market but conditions are probably starting to ease a little,” he said.

“As more stock’s come to market buyers have a little bit more choice and properties are not selling quite as quickly, so there’s not as much pressure as there was last year.”

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