According to reports, the Australian property market is benefiting from several factors. The decision to pause interest rate hikes in Australia, coupled with increased demand for housing, has provided support to the real estate market. Sellers, particularly in the busiest cities of Sydney and Melbourne, are confident about the upcoming spring property market.

Traditionally, spring is the peak season for property transactions in Australia. However, this year has seen some unusual deviations from the market's usual trends.

Data from Domain indicates that both Sydney and Melbourne have seen an increase in the number of new listings, which is good news for markets that have long been characterized by tight and insufficient supply.

Buyer demand is also on the rise, especially since the last interest rate hike by the Reserve Bank of Australia in June. A stable clearance rate further reinforces the confidence of both sellers and buyers. While clearance rates may see a slight dip as buyers have more choices, they are expected to remain strong.

Overall, the Australian real estate market is grappling with the issue of demand outstripping supply, particularly in the price range of 800,000 to 1 million Australian dollars. While sellers remain optimistic about the market, the actual supply continues to grow.

Areas such as Newtown, Marrickville, and Earlwood in Sydney are among the most popular neighborhoods, with the surrounding areas also attracting attention. With the increase in new listings, buyers will have more choices and potentially greater negotiating power to achieve market equilibrium.

In summary, the Australian property market is currently enjoying favorable conditions, with demand still exceeding supply, and the increase in new property listings is expected to provide more options for buyers, keeping the market vibrant.