Capital cities drive rise as regional figures decline
New property listings across Australia rose 6.6% in August compared to the previous month but were down 0.7% year-on-year, according to the latest data from PropTrack.
Total listings across Australia, which include both new and previously listed properties, increased by 1% over the month and were up 4.5% compared to August 2023. This marks the 11th consecutive month of year-on-year growth in total listings.
In the capital cities, new listing volumes were up 1.6% year-on-year in August 2024, reaching the highest levels for the month since 2012. However, new listings in regional markets saw a 4.7% decline compared to August 2023.
Sydney, Melbourne, and Canberra saw the largest increases in new listings among the capital cities, with each city posting its highest August figures in over a decade. Sydney and Melbourne had their strongest August since 2012, while Canberra recorded its best August since 2004. 
“National new listing volumes rose for the fourth time in the past five months in August, reaching their highest level since May 2024,” said Cameron Kusher (pictured above), director of economic research at PropTrack.
He noted that while national new listings were slightly lower than a year ago, Sydney has experienced 14 consecutive months of year-on-year growth in new listings, while Melbourne and Brisbane have seen annual increases for five months in a row. 
“The ongoing strong new listings environment has resulted in more choice for buyers, with total properties advertised for sale up 4.5% in August compared to a year earlier,” Kusher said. “However, the high volume of listings is also contributing to a slowing in home price growth.”
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