REA Group’s September PropTrack Listing Report reveals new property listings reached their highest level for a September since 2015.

Nationally, listings rose by 2.8%, according to Cameron Kusher, Director of Economic Research.

Kusher points to several factors driving this increase. Many sellers who had been holding out for an interest rate cut this year now realise it’s unlikely until 2025 and feel they can’t delay any longer.

Additionally, homeowners with strong equity are looking to capitalise on their property’s value.

He also notes that as the rental market eases slightly, sellers feel more confident they can find temporary accommodation between selling and purchasing a new home.

“A lot of sellers don’t buy a new property immediately after selling, so they need to rent in the interim. When the rental market was tight, this discouraged some from listing,” Kusher explains.

The report shows Canberra led the way with a 19.8% increase in new listings year-on-year, followed by Sydney with 17.9% and Perth at 17.7%.

Total listings across capital cities rose 7.7% over the year, though Brisbane, Adelaide, Perth, and Darwin saw decreases.