New listings have flooded onto the market since Christmas – with the exception of two capital cities.
Sydney has experienced the biggest reduction in properties that have been advertised for sale over the past 28 days, according to CoreLogic RP Data.
There were 2,017 new listings as of 17 January, down 13.4 per cent on the corresponding period the year before.
Canberra was the only other capital to go backwards, with new listings falling 11.1 per cent to 216.
Adelaide experienced the biggest jump, with new listings increasing 12 per cent to 1,251.
Hobart also experienced double-digit growth, with the number of new listings climbing 10.4 per cent to 266.
Perth rose 7.2 per cent to 2,678, Melbourne rose 7 per cent to 2,946, Brisbane rose 6.3 per cent to 2,547 and Darwin rose 3 per cent to 103.
Although Sydney experienced a significant decline in new listings, the number of total listings actually surged 16.6 per cent to 15,776.
Only two other capitals gained listings over the year – Darwin rose 14.5 per cent to 1,461 and Perth rose 10.4 per cent to 19,213.
Hobart was the capital with the biggest reduction in listings, which fell 12.9 per cent to 2,433.
Melbourne fell 7.1 per cent to 22,572, Brisbane fell 4.3 per cent to 16,418, Canberra fell 4.2 per cent to 1,721 and Adelaide fell 1.8 per cent to 7,019.