Listings have risen in every capital city across Australia, lifting by 9.8% since 'bottoming out' over the four weeks up to 5 September 2021, according to recent CoreLogic data.
Despite this lift, new listings are trending 21.6% below the peak in March this year, and is 3.9% lower than the five-year national average.
This lift is said to be a 'welcome relief' for buyers and real estate professionals alike, as more listings will provide buyers with more choice, according to Tim Lawless, head of research at CoreLogic.
Mr Lawless said more listings should theoretically "help alleviate some of the urgency in the market."
"With lockdown restrictions planned to ease further as vaccination targets are met, we should see an increase in confidence from vendors thinking of selling their property," he said.
The largest recent lift in listings has been in Melbourne, where new listings have surged by 48.5%.
According to CoreLogic, easing restrictions are predicted to add to this lift in listing volume.
Sydney not as strong but starting to come alive
Sydney hasn't seen the same volatility as Melbourne, but listings have been slowly lifting since August.
Currently, new listings have risen by 31%. However, this is trending 3.9% below the five-year average for this time of year.
Additionally, new listings in Canberra have risen 28% since hitting a low last week.
As restrictions ease, it's predicted that new listings will substantially increase.
Brisbane's new listings suffered from a 'lockdown hangover', but appears to be experiencing a mild upwards shift. This is still 3.8% lower than the five-year average.
In Hobart, new listings have bounced back, but remain 9.6% below the five-year average.
The new listings trend in Hobart has remained consistently below average throughout 2021, which is likely a key contributing factor to sharp rises in house prices, according to CoreLogic.
'Lockdown avoidant' cities holding strong
New listings in Perth are tracking 7.9% above its five-year average for this time of year, up 18.3% from this time last year.
Darwin's new listings are rapidly trending upwards, sitting at 45.7% above its five-year average.
Additionally, new listings in Adelaide are 1% higher that the city's five-year average for this time.
Notably, these cities are mostly less-affected by lockdowns than cities on the east coast.
Auction numbers 'hindered' by strict inspection rules
Domain's Auction Preview revealed a 7% dip in new auction numbers across the country when compared to last week, excluding Sydney and Canberra.
Auction volumes in Sydney skyrocketed by 124% this week.
On the other hand, auction numbers fell by 34% in Melbourne, suggesting sellers are offering onsite inspections with buyers.
While overall volumes are low, it's anticipated that the auction market will bounce back, with Melbourne predicted to have the highest growth.
All capital cities had an auction clearance rate of more than 80% last Saturday, excluding Melbourne.
Restrictions are also reflected in lower auction numbers, which tend to push clearance rates higher.
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| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
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| Promoted | Disclosure | ||||||||||
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