Homebuyers had more options in April compared to the same time last year despite recent home listing numbers falling.  

New PropTrack data showed activity in the nation’s property markets slowed in April amid long weekends for Easter and Anzac Day.  

On a month-on-month basis, new listings nationally on realestate.com.au fell 28.3% in April, while total listings declined 5.2%.  

That said, choice has improved compared to a year ago, and compared to the low levels seen during 2021. The total number of properties listed for sale was still 5.6% higher than April 2022. 

PropTrack Economist Angus Moore said 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.  

“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,” Moore said.  

“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 from late 2022. Auction clearance rates have remained reasonably firm throughout autumn and have picked up compared to the second half of 2022.  

“Home prices increased again in April, marking the fourth consecutive month of growth. While the increases have been modest, it is a change from the consistent price falls seen throughout much of 2022 when the RBA was raising interest rates very quickly.  

“In the medium and long term, the fundamentals of housing demand remain strong. Unemployment has remained close to multi-decade lows for much of 2022 and into 2023. Wages growth, while running slower than inflation, has started to pick up. International migration has also resumed, which will further add to housing demand, while rental markets remain extremely tight across the country.” 

Capital cities led the slowdown, with new listings down 29% month-on-month. All capital cities saw new listings decline, led by Canberra (-37.7%) and Hobart (-34%).  

Regional areas also felt the pinch, with new listings falling 27.2% month-on-month.