More property for sale this autumn selling season, says PropTrack

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April saw an increase in the number of properties on offer over the autumn season.

Notably, a new PropTrack Listings Report found that the number of available stock was 5.6% higher than last year.

However, despite improvements in housing stock the property market has been slow to move compared to March and early 2022.

“April was a quieter month than March across the nation’s property markets, as is usually the case due to the Easter and Anzac Day public holidays,” says PropTrack economist Angus Moore.

“Although it was a slower month of new listings, the good news for buyers is that the total number of properties available for sale has improved compared to a year ago and is up sharply in some parts of the country. This is giving buyers more choice.”

“With the majority of the autumn selling season now behind us, we expect market activity will remain quieter over the next few months. This is usually the case heading into, and during, the winter period before the market picks up again for spring.”

“However, market conditions have improved since late 2022. Auction clearance rates have remained reasonably firm throughout autumn and have picked up compared to the second half of 2022.”

But what does this mean for the property market for the rest of the year?

Where is the property market heading?

Despite an increase in property stock, the market has had a quiet start to the year compared to 2022. 

The slowdown could be associated with the 11 cash rate increases by the RBA, making borrowing money more difficult alongside the current cost of living crisis.

Economists from the big four banks forecast that there’s still another cash rate hike imminent, the question is when. Meaning that for now it's likely the property market will continue to be slow as new buyers struggle to get a foothold. 

If you’re looking to buy property this year, it’s essential to do your research. Get started with Mozo’s home loan guides. Alternatively, if you’re ready to take advantage of the stock increase this autumn season compare home loans below.

Home loan comparisons on Mozo

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Last updated 16 June 2024 Important disclosures and comparison rate warning*
  • Basic Home Loan

    • Owner Occupier
    • LVR 90-95%
    • Principal & Interest
    Interest rate
    7.19 % p.a.
    Variable
    Comparison rate
    7.22 % p.a.
    Initial monthly repayment
    $4,747
    Go to site

  • Basic Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR 80-95%
    Interest rate
    6.75 % p.a.
    Fixed 3 years
    Comparison rate
    7.09 % p.a.
    Initial monthly repayment
    $4,540
    Go to site

    Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.

  • Basic Home Loan

    • Owner Occupier
    • LVR 90-95%
    • Principal & Interest
    Interest rate
    7.19 % p.a.
    Variable
    Comparison rate
    7.22 % p.a.
    Initial monthly repayment
    $4,747
    Go to site

  • Offset Home Loan

    • Owner Occupier
    • LVR 90-95%
    • Principal & Interest
    Interest rate
    7.19 % p.a.
    Variable
    Comparison rate
    7.43 % p.a.
    Initial monthly repayment
    $4,747
    Go to site

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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