While hot property markets are generally seen as a driver of listings, the reality is that there is a point that it can get too hot. Most buyers are subsequent sellers so when markets get too hot, there does tend to be a sense of nervousness amongst sellers that it is difficult to get back into the market.
The good news is that stock levels are up, and not just compared to last year but also compared to the previous year (pre-COVID). In fact, for listings, this is the strongest start to winter we have ever recorded.
While nationally this is the case, the gap between previous years varies across each state. Victoria, hit by rolling lockdowns, is only slightly above 2019 listings levels. This is likely to be the state that sees the biggest pick up in coming months.