The sharp increase in inventory levels is creating favourable conditions for buyers, experts say.
Already a subscriber?The spring selling season will kick off as early as next month across Sydney as vendors scramble to get ahead of any potential downturn in demand if interest rates increase again, real estate agents say.
“A lot of people are worried about what might happen so they are looking to jump in and get a sale before anData from real estate agency Ray White shows listing authorities jumped 19 per cent nationally over the rolling 28 days compared to a year ago, indicating more properties are about to hit the market.
New listings have also increased above the five-year average across Melbourne, Brisbane, and Hobart, where they are now 19.3 per cent, 4.5 per cent and 18 per cent higher respectively.In Perth, fresh stock only increased by 0.7 per cent above the five-year average but lower by 2.1 per cent in Adelaide.
“Higher interest rates could see the spring season being amplified a little in terms of more listings coming into the marketplace, or we could see a return to what happened in the early part of the rate hiking cycle, where people just buckled down.
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