New Real Estate Listings Increase Across the Country

The number of new real estate listings across Australia has increased by 16 per cent, according to seasonally-adjusted figures published by RP Data for the week ending April 14.

The data, which represents the month-on-month change in the Australian property market, shows that New South Wales is leading the charge when it comes to the number of properties listed on the market, with an increase of 18.6 per cent. It is followed closely by Tasmania (15.7 per cent) and Queensland (15 per cent).

The RP Data figures also explored how long, on average, properties for sale in each Australian capital city remained on the market before they were sold.

Canberra had the lowest average listing time for houses (35 days), while Sydney had the lowest average listing time for units (33 days). The longest listing times for both houses and units were in Hobart (84 days and 83 days, respectively).

Overall, Canberra recorded the least flexibility in terms of the difference between the property's asking price and its eventual selling prices. The difference for houses was -5.2 per cent, and -3.1 per cent for units.