Angus

In terms of the numbers, we actually saw new listings a little softer in May in Sydney specifically than they were last year, down about 4%, but still up quite strongly compared to April, up more than 13%.

And this is coming off a very busy first quarter.

So it's not surprising we've seen maybe a slightly slower month in Sydney.

Regional New South Wales, on the other hand, actually pretty strong, up about 10% compared to last year in terms of new listings.

So staying quite busy there.

Yeah, exactly right.

Melbourne's been very busy to start the year.

We said Sydney had been busy.

Melbourne's been even busier.

They've had an incredibly busy first quarter and that's continuing through May.

So new listings were nearly 5% higher in May than they were at the same time last year.

So that's a significant pickup in activity, in listings activity.

And that's giving buyers a lot more choice.

In Melbourne, as in Sydney, the number of actively listed for sale properties is now back above decade average, which is a big change from what the case was during the pandemic when buyers were faced with relatively few choices.