The new figures suggest that the shortage has been overblown. Residential property listings were 328,270 during December, representing an increase of 44.9% over the year.
Louis says the figures dispel the myth of property undersupply in most cities, and says certain capitals such as Brisbane are recording a dangerously high level of properties on the market.
Christopher also says he is concerned about Darwin, which recorded the largest increase out of all capital cities at 57.3%.
If the bubble burst still needed a triggering event, the floods may turn out to be it.