The current state of the Australian property market is complex and varies depending on location and property type. However, in general, there is currently a shortage of properties in many parts of Australia, particularly in major cities like Brisbane, Sydney and Melbourne.

One of the main factors contributing to the under-supply of properties in Australia is the strong population growth, driven by immigration, and the increasing demand for housing. Additionally, there has been a lack of new construction in recent years, which has further exacerbated the under-supply issue.

As a result of the under-supply of properties, prices have been rising, making it challenging for many people, particularly first-time buyers, to get into the property market. However, this situation can vary depending on the location and property type, so it’s important to do thorough research and seek professional advice before making any decisions regarding property investment in Australia.