Overwhelmingly the theme of property markets across Australia is one of recovery. Hotspotting’s new Spring 2023 survey of sales activity throughout the nation shows that most of the cities and regional markets which had been in decline are now moving emphatically into a phase of revival. Sydney, Brisbane and Melbourne, as well as the regional markets of Queensland, South Australia and Victoria, are leading a significant momentum shift in Australian real estate. The recovery in activity and prices has been building gradually since the start of the year but has surged to another level in the latest quarter. The Spring 2023 edition of The Price Predictor Index is the most optimistic quarterly edition since 2021, following 18 months in which many markets struggled and sales activity steadily declined.