Worries for property sale spike: report

A surge in residential properties put up for sale in Melbourne and Sydney could indicate buyers are worried prices have peaked, The Australian Financial Review reports.

According to the newspaper, new listings in Sydney are 24 per cent higher than the same time last year, while Melbourne’s listings are up 19 per cent.

"The market might not be as strong in a few months' time and there will be more stock to compete with as spring numbers rise," said CoreLogic RP Data head of research, according to AFR. "Whether this new stock will be absorbed as fast as it has over the past years is the million dollar question."

"There is a bit of nervousness building up," said Beller Group director Andrew Fawell.