The PropTrack Housing Market Indicators Report for December showed the number of homes for sale increased in November, while viewings per listings declined. 

Views per listing fell 9% in November, down from October’s historic high, while the volume of weekly searches fell 16.2% over the past seven consecutive weeks. 

With lockdowns over, email enquiries to agents fell by 22% in November to the lowest volume since July 2021.

Weekly sales volumes fell 1.7% last week however they are 11.6% higher than the same week last year, indicating the strong market activity currently.

Email enquiries from buyers were 24.5% lower month-on-month in November, but it was first home buyers (-25.5%) who were the least active.

The share of searches for properties listed above $1 million hit a record high in November, accounting for 44.1% of all searches with a price filter.

PropTrack Director of Economic Research and report author, Cameron Kusher, said Australia’s housing market is experiencing elevated demand, resulting in high volumes of sales at rapid speeds.

"There are also signs that some of the heat is coming out of the market, with falls in enquiry and a decline in views per listing," Mr Kusher said.

“We are still seeing many active buyers, but for the first time since the pandemic began, the strong ramp up in new listings has given them more choice. Buyers continue to outweigh sellers in the current market, but the gap is narrowing, meaning the strength of the sellers’ market is softening.

"Demand is expected to ease from its strong levels; fewer disruptions due to lockdowns should lead to a consistent supply of new listings, and price growth is expected to slow.

"Encouragingly for buyers, the volume of competition for housing stock should also ease. Overall, we appear to be witnessing the first signs of a shift from an extreme sellers’ market to one which is slowly moving towards more balanced conditions between buyers and sellers."

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LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
6.04% p.a.
6.06% p.a.
$3,011
Principal & Interest
Variable
$0
$530
90%
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  • No application, ongoing monthly or annual fees.
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Disclosure
5.99% p.a.
5.90% p.a.
$2,995
Principal & Interest
Variable
$0
$0
80%
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  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
 Disclosure
6.09% p.a.
6.11% p.a.
$3,027
Principal & Interest
Variable
$0
$250
60%
  • No annual fees – None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
 Disclosure
5.69% p.a.
6.16% p.a.
$2,899
Principal & Interest
Fixed
$0
$530
90%
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Flexibility to split your loan with both fixed and variable rates
 Disclosure
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

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