The primary three months of 2022 was the busiest quarter since 2014 by way of property listings – capital metropolis new listings grew by 16.2% in March.
In line with PropTrack, all capital cities reported double-digit month-to-month features in new listings, with Melbourne and Sydney hitting the best features.
On a nationwide stage, new listings additionally remained elevated, up 15.5% over the month.
PropTrack economist Angus Moore mentioned householders are benefiting from the excessive demand for homes regardless of a surge in costs.
“Measures of purchaser demand look to be easing from the file ranges seen in late 2021 however on the similar time, the sturdy ranges of recent provide coming to market over the previous six months have helped give consumers extra selection and ease competitors out there,” he mentioned.
“As we proceed by the sometimes busy autumn promoting season, promoting situations are prone to stay sturdy.”
Nonetheless, sellers might need to face a number of headwinds within the coming months, significantly the seemingly fee will increase that would soften purchaser enthusiasm.
“These elements imply that, whereas promoting situations look set to stay sturdy within the near-term, we’re prone to see some tempering from the dominant ranges skilled in late 2021 and early 2022,” Mr Moore mentioned.
Robust quarter for gross sales
Figures from the Housing Trade Affiliation (HIA) confirmed a 3.9% progress in new house gross sales in March.
HIA economist Tim Devitt mentioned whereas this leaves new house gross sales over the primary three months of the yr 2.8% decrease than the previous quarter, the beginning of 2022 was nonetheless “exceptionally sturdy” for sellers.
“Regardless of a tough begin to the yr, with employees absences related to the Omicron outbreak and prolonged vacation depart, new house gross sales proceed to maintain ranges normally related to authorities stimulus,” he mentioned.
The truth is, the primary three months of the yr was the second strongest quarter since 2016.
“Demand for brand spanking new properties continues to be pushed by a scarcity of properties and an acutely tight rental market that has resulted in fast home worth and rental worth progress.”
All states posted features in new house gross sales, however New South Wales rose as the highest performer with a 78.5% achieve over the quarter.
Solely South Australia reported a decline in new house gross sales over the interval, albeit solely barely at 4.6%.
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