{"id":5388,"date":"2024-02-22T09:49:38","date_gmt":"2024-02-21T23:49:38","guid":{"rendered":"https:\/\/financialplus.com.au\/?p=5388"},"modified":"2024-02-22T09:49:38","modified_gmt":"2024-02-21T23:49:38","slug":"home-buyers-rejoice-more-listings-are-hitting-the-market","status":"publish","type":"post","link":"https:\/\/financialplus.com.au\/home-buyers-rejoice-more-listings-are-hitting-the-market\/","title":{"rendered":"Home buyers rejoice! More listings are hitting the market"},"content":{"rendered":"
Great news for home buyers! After an extended run of low listings, the number of homes coming onto the market is skyrocketing. So could this have an impact on the property market? Let\u2019s take a look.<\/strong><\/p>\n Take a look around your local suburb, and chances are you\u2019ll see freshly minted\u00a0For Sale<\/em>\u00a0signs popping up all over the place.<\/p>\n That\u2019s because a large number of homes are coming onto the market.<\/p>\n Research firm\u00a0PropTrack<\/a>\u00a0says the property market is off to a strong start for the year, with the number of new listings nationally on realestate.com.au up 12% year-on-year in January.<\/p>\n Melbourne and Sydney had their busiest January in over a decade.<\/p>\n Activity was also strong in Hobart, Brisbane and Adelaide, with Canberra experiencing its busiest-ever January for new listings.<\/p>\n Only Perth bucked the trend, recording slightly fewer new listings this year compared to January 2023.<\/p>\n The rise in new listings reflects strong demand, very low unemployment and population growth.<\/p>\n Home buyers are also enjoying a more stable interest rate outlook.<\/p>\n February saw rates remain on hold, and PropTrack says financial markets are now expecting a reasonable chance that interest rates may start to fall later in the year.<\/p>\n More homes coming onto the market gives buyers the benefit of increased choice, and that\u2019s a real plus if you are looking for your first home or upgrading to your next place.<\/p>\n But the rise in listings may not push home prices down.<\/p>\n That\u2019s because we are still seeing plenty of keen buyers.<\/p>\nWhy the uptick in listings?<\/h3>\n
What does more listings mean for home buyers?<\/h3>\n