Angus Moore

And that's in spite of the increase in interest rates, which I think shows the kind of relative desirability of Adelaide compared to, say, Sydney and Melbourne at the moment.

Yeah, it's exactly right.

Particularly in winter, sales volumes are a bit lower.

And so at a suburb level, which is a relatively small geographic area, you might be looking at a reasonably small number of sales overall.

And so that's why we can see them tripling in the space of a year.

That's why we often look at the broader, what we call SA4 regions, which cover something like 300,000 to 500,000 people because there you're looking at a big enough area that even in winter, you've got a really good sample of properties coming to market to compare how busy it was this year versus last.

Brisbane has been one of the most interesting, and South East Queensland broadly, but one of the most interesting property markets for the past couple of years because we've seen just red hot demand for people moving up from Sydney and Melbourne in particular to South East Queensland.

And what that's meant is there's been strong demand and relatively little supply available because when it comes up, it's getting kind of snapped up.

And we're starting to see a bit more coming to market.

So as you said, we saw more new listings in Brisbane in May than we did in April.

In part, that's because April was quiet with the public holidays.

But even compared to last year, the number of new listings in Brisbane was up 8%, 8.5% compared to the same time in 2021.

So that's going to start being good news for buyers.

You know, they are starting to see a bit more stock coming to market.

But even so, the number of properties listed, number of active properties listed,

is still below even where it was a year ago.

It's down sort of 12% in Brisbane compared to where it was a year ago, which is showing just how quickly stuff's getting picked up.

And even with those new listings, it's kind of not enough to boost the stock of properties available to buyers.

Yeah.

So I said Brisbane was one of the most interesting, I think.