Why are property prices cooling?

Eleanor Creagh, senior economist at PropTrack and author of the report, says that one of the reasons behind the recent cooldown in prices is an increase in listings.

"We've seen the upswing in national home prices continue in September, although growth has slowed in most markets with buyers enjoying a lot more choice during this busier spring selling period.

"We actually saw that in Sydney, Melbourne and Canberra, buyers enjoyed the most new listings for an August in over a decade.

"So a continued uplift in the number of new properties hitting the market in those capital cities during September has really provided much more choice for buyers and contributed to the slowing pace of high price growth."

Read more: Property price rises ease as new listings hit the market

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