There’s good news for those who are in the market for a home, with multiple Australian cities recording a big change. Picture: Glenn Hunt / The Australian

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Good news if you’re hunting for a home right now, with an increase in the number of properties hitting the market across the country in the past month.

The latest listings report from PropTrack reveals a 6.6 per cent rise in listings nationally in August — the fourth rise in the past five months.

Sydney has recorded an increase in new home listings for a 14th straight month, according to PropTrack. Picture: Max Mason-Hubers.

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Sydney, Melbourne and Canberra recorded the most new listings in more than a decade, while Hobart, Darwin, and Adelaide saw slight annual declines in new listings for the month.

Regional markets saw a 3.9 per cent monthly increase in new listings, but that’s down compared to the same time last year.

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Cameron Kusher, director of economic research, PropTrack.

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“The capital cities have seen a 1.6 per cent rise in new listings year-on-year while new listing volumes have lowered in regional markets, declining 4.7 per cent year-on-year,” PropTrack director of economic research Cameron Kusher said.

“The ongoing strong new listings environment has resulted in more choice for buyers with total properties advertised for sale up 4.5 per cent in August from a year earlier.

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PropTrack data shows there was a 6.6 per cent rise in new listings nationally in August.

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“Over recent months in Sydney and Melbourne, we’ve been seeing a higher year-on-year number of listings, but it’s good to see that in Brisbane, Adelaide, and Perth — where new listings have been extremely low — they’re now starting to trend higher.”

Mr Kusher said the growth in listings reflected rising seller confidence and, possibly, an easing rental market.

August marked the 14th consecutive month in which new listings were higher year-on-year in Sydney, rising another 4.3 per cent, while listings in Melbourne climbed 2.7 per cent.

“In Sydney and Melbourne, people who were putting off selling for a long time now need to move,” he said. “There’s more stock on the market in Sydney and Melbourne, so there’s also more confidence of being able to find the right property.

In Brisbane, competition for properties is still high, with new listings up a slight 0.1 per cent year-on-year in August, marking the fifth consecutive month of annual growth.

Some suburbs offer more buyer choice than others though, with listings rising the most on an annual basis in Robertson — up a huge 138 per cent, followed by Coochiemudlo Island, Middle Park, and Marburg.

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This house at 25 Bacchus St, Robertson, is for sale. Robertson has had a huge increase in listings, according to PropTrack.

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“In Brisbane, Perth, and Adelaide, largely people have been holding off transacting for so long that they now need to,” Mr Kusher said.

“In the last couple of months, we’ve seen a bit of an easing in the rental market. Stock available for rent has increased, and while overall stock levels are still very low, maybe there’s a level of comfort that ‘If I can’t buy and sell in the same market, I can now rent at least’.”

Mr Kusher said some of the increase in new listings could be attributed to distressed selling, particularly in Melbourne.

“There would definitely be some people in a situation where they’d have to sell,” he said. “A lot had been hanging their hats on a rate cut this year, but that’s looking pretty unlikely. Maybe people are saying; ‘You know what? It’s time to bite the bullet and move on’.”

But there is also evidence of a rise in the number of buyers, with a 23 per cent increase in the number of people getting loan pre-approvals nationally in August, compared to the same time last year, according to Loan Market.

Ray White Group chief economist Nerida Conisbee. Picture: Supplied

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Ray White Group chief economist Nerida Conisbee said the group had also noticed a larger than normal increase in listings for this time of year.

“While a lot of stock coming to market might suggest price growth softening, we have also seen a pick up in first home buyer, owner occupier and investor lending,” Ms Conisbee said. “Average active bidding at Ray White auctions also remains solid. While interest rates remain high, it may be the growing potential for a cut is driving activity amongst buyers as we head into spring.”

Real estate agent and Compare The Market property analyst Andrew Winter said conditions had been tough for home buyers this year, with short supply and high demand creating an overheated and overcrowded market — but that was changing.

Real estate guru and Compare The Market property expert Andrew Winter. Image: Luke Marsden.

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“We’ve started to see the steam coming off asking prices in some of the capitals…as sellers adjust their expectations in line with buyers’ reduced borrowing capacity,” Mr Winter said.

Asking prices in Brisbane dropped 0.5 per cent in July, according to SQM Research data, which is also a sign sellers are more willing to meet market expectations.

“In the months ahead we should also see the ice melt on new listings, with sellers bursting out of their winter hibernation ready to move,” Mr Winter said.

“This could mean there are more opportunities for new buyers, who may have been stifled a bit by rising prices and reduced borrowing power over the past two years.”

The average new loan size for owner occupier borrowers in Queensland reached $598,857 in July, according to the latest ABS Lending Indicators data.

An owner occupier today who takes out a loan at the average amount and has a 20 per cent deposit, could be shopping for a property worth an estimated $748,571 (excluding stamp duty and other associated costs), according to Canstar’s analysis.