In the February IPN Regional Listings Index report, the Australian regional property listing landscape reveals interesting shifts in market supply. Across January, the aggregate number of listings across all regions dropped by -2%, whilst capital cities saw an overall decrease of -5%. State-level fluctuations continue to vary considerably, indicating a more complex supply dynamic.
Regional Listings Index Report Highlights
New South Wales
Greater Sydney dropped by -1%, compared to December 2023, whilst the rest of NSW held steady with a 0% change. Tumut – Tumbarumba and Clarence Valley identified the largest increase in average listings compared to the month prior, with both sitting at 8%.
Victoria
Greater Melbourne listings saw a decrease of 5%, whilst the rest of VIC decreased by -1%, down from +2% increase in December. Warrnambool identified the largest increase at +5%, followed by Gippsland – East at 4%. Wellington and Glenelg – Southern Grampians increased by +2%.
Queensland
Month on month, regional Queensland listings decreased by -4%,whilst Greater Brisbane dropped by -6%. Broadbeach – Burleigh saw an increase of +7%, followed by Coolangatta at +4%.
Other states
Western Australia saw a -5% decrease in listings across regional areas, as well as a -11% decrease in the Capital. SA saw a -9% decrease in the Capital and a -4% decrease in regional areas, whilst, in TAS, Greater Hobart identified a -2% decrease, whilst the rest of TAS held steady with a 0% change.
ACT saw a decrease of -3%.
The upcoming months are crucial for observing whether these trends in property listings continue to diverge, stabilise, or pivot in a new direction.