The balance of power in Australia’s property market may be tilting in favor of buyers, as new property listings have started to increase across many parts of the country. According to the latest data from SQM Research, 65,863 new properties were listed for sale in June, marking a 1.0% rise from the previous month and a 3.7% increase compared to the same time last year.
This uptick in new listings is particularly significant as it suggests that more properties are entering the market, giving buyers a broader range of options to choose from. Four of Australia’s capital cities reported month-on-month increases in new listings, while five cities saw year-on-year increases.
For buyers, this is welcome news. An increase in available properties typically translates to less competition, which can improve their negotiating power when dealing with vendors. More options mean buyers can be more selective, and in many cases, may be able to secure a property at a more favorable price.
In recent months, the property market has been characterised by low stock levels and intense competition among buyers, often leading to price increases and bidding wars. However, with more properties coming onto the market, there’s a growing indication that the market is beginning to rebalance, which could bring some relief to buyers who have been feeling the pressure.
This trend also reflects a broader shift in market dynamics, as some sellers who may have been waiting on the sidelines are now deciding to list their properties. Whether due to perceived market peaks or other personal factors, this influx of new listings could signal a more active and balanced market in the coming months.
For sellers, while the increase in competition might mean adjusting expectations, it could also lead to quicker sales if they price their properties competitively. The overall market activity suggests a healthy level of engagement, with both buyers and sellers finding opportunities to achieve their real estate goals.
Conclusion:
As we move further into the year, the increase in new property listings is a positive development for buyers looking for more options and better negotiating power. This shift could also indicate a more balanced market on the horizon, benefiting both buyers and sellers alike.
