In our October IPN Regional Listings Index report, the Australian regional property listing landscape reveals interesting shifts in market supply. The aggregate number of listings across all regions rose by 7%. State-level fluctuations continue to vary considerably, indicating a more complex supply dynamic.
Report Highlights
New South Wales
Greater Sydney grew by 17%, compared to the month prior, whilst the rest of NSW saw a 7% increase. The largest increases were in Snowy Mountains +15%, Young – Yass +15%, Dubbo +12%, Great Lakes +12% and Albury +10%.
Victoria
Regional Victoria had the largest overall listing increase, up 8%, whilst Greater Melbourne saw a 14% increase. The biggest increase in listings can be seen in Mildura+ 10, Upper Goulburn Valley +9%, Ballarat +8%, Wellington +8%, Surf Coast – Bellarine Peninsula +7% and Gippsland – South West +7%.
Queensland
Month on month, regional Queensland listings held steady at 0%. Interestingly, regional Queensland boasts the largest listings of all states, and is the only state or territory with more regional listings than its capital. The notable regional listing increases were Mudgeeraba – Tallebudgera +17% and Buderim +10%.
Other states
Western Australia's saw a 4% drop in listings across regional areas and an 8% drop in listings in the capital, which continues to signal a tightening market, which could lead to upward pressure on property prices. South Australia's regional listings were stable at 1%, while Tasmania's listings saw an increase of 2% outside of Greater Hobart.
Substantial listing increases ACT of +24% could indicate a softening of property prices.
The upcoming months continue to be crucial for observing whether these trends in property listings continue to diverge, stabilise, or pivot in a new direction.