Realestate.com.au reports a 19% increase in potential buyers searching its online listings in the past week, compared with the same time last year. That’s good news for those who want to sell at top end prices, but bad news for buyers who are facing increased competition, according to REA Director of Economic Research Cameron Kusher.
Nationally listings are now 23.7% lower than at this time last year, recording the largest year-on-year drop since 2016. New listings dropped by 27.3% in Sydney, 26.9% in Adelaide, 14.2% in Melbourne and 6.6% in Brisbane during the month.
Kusher says demand for properties remains at near record-high levels.