According to data released by PropTrack, the number of new listings on realestate.com.au in Sydney increased by 38.8% compared to the previous month, making it the busiest February since 2012. Compared to the same period last year, the number of new listings increased by one-third, with a month-on-month increase of 26% and a year-on-year increase of 15%.

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This outstanding performance reflects the level of activity in the Australian real estate market and highlights the strong interest of homebuyers in properties. Angus Moore, an economist at PropTrack, pointed out that real estate activity in spring 2023 was more normal and robust than in spring 2022, highlighting the strong demand and the driving force of other multiple factors. He mentioned that low unemployment rates, population growth, tight rental market conditions, and a more stable outlook for interest rates are all reasons for the active real estate market at the beginning of this year.

In addition to Sydney, the number of new listings in the New South Wales region increased steadily in February, with a 27% increase compared to the previous month and a 12.2% increase compared to the same period last year. This indicates the spreading and sustainability of real estate market activity, injecting new vitality into the entire region's real estate market.

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Moore also pointed out that the control of inflation rates has an important impact on future monetary policy. The market no longer expects interest rates to rise further and expects a rate cut in the second half of this year. This change in expectations is mainly due to the fact that the inflation rate seems to have been controlled earlier than the Reserve Bank of Australia initially expected. By 2023, the inflation rate is 4.1%, slightly lower than the Reserve Bank of Australia's initial expectations, so the Reserve Bank of Australia currently expects the inflation rate to approach its target level by the end of this year.