Third spring in a row I've written some version of this post. Listings are up on winter, the way they always are seasonally, but demand's picked up faster off the back of the rate cuts, and the gap between the two hasn't closed at all.
I keep expecting this pattern to break eventually, either supply genuinely catching up or demand finally cooling enough to let the market breathe. Neither has happened yet, three years running.
At some point I'll stop being surprised by it and just accept this as the baseline character of the Brisbane market for this whole cycle. Might already be there, honestly. The surprise wore off a while ago. What's left is just tracking how long it keeps going.