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A large number of new property listings hit the market in the final month of winter, ahead of the spring selling season, according to SQM Research.
The number of new listings (i.e. those less than 30 days old) was 6.9% higher in August than the month before.
That helped drive a 2.0% increase in the number of for-sale properties (see chart), as the number of listings entering the sales market exceeded those leaving it.
"The capital cities, by and large, are having a strong start to the spring selling season," SQM Research managing director Louis Christopher said.
"SQM Research has just recorded the largest counts of new listings for Sydney for any month of August since our records began in 2009. Melbourne since 2016. And to date, we know the auction market is having a strong start in September with rising volumes and firm clearance rates holding over from winter."
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