Property Listings Rise for Mid Spring

Figures released by SQM Research reveal national residential property listings increased in October by 2.0%, up from 312,754 in September 2019 to 318,874.

Compared to 12 months ago, listings were down by 4.8%.

All states experienced an increase in property sales listings over the month except for Darwin which experienced a decrease of 2.4%.

Sydney experienced the highest increase of 4.2%. Overall, listings are down in Sydney by 19% when compared to October 2018.

Canberra’s October sales listings was not far behind with a 4.1% increase.

Melbourne, Brisbane and Perth’s October increases of 3.7%, 1.9% and 2.7% respectively, also showed a good year-on-year turnaround for sales listings.

Hobart had a marginal increase of 0.8% over the month.

Stock on Market Table:

City	October 2018 Total	September 2019 Total	October 2019 Total	Monthly change %	Yearly change %
Sydney	37,001	28,773	29,977	4.2%	-19.0%
Melbourne	39,187	34,824	36,122	3.7%	-7.8%
Brisbane	31,992	30,518	31,101	1.9%	-2.8%
Perth	25,783	23,731	24,368	2.7%	-5.5%
Adelaide	16,345	15,825	16,369	3.4%	0.1%
Canberra	4,425	4,350	4,529	4.1%	2.4%
Darwin	2,057	1,969	1,921	-2.4%	-6.6%
Hobart	2,071	2,122	2,138	0.8%	3.2%
National	335,014	312,754	318,874	2.0%	-4.8%

Key Points

• National residential property listings increased in October by 0%, up from 312,754 in September 2019 to 318,874. Compared to 12 months ago, listings were down by 4.8%.
• All states experienced an increase in property sales listings over the month except for Darwin which experienced a decrease of 4%.
• Capital City average asking prices decreased marginally by 7% for houses but increased 0.3% for units, over the month to 29 October 2019. House asking prices are now $935,400 and units $570,100.
• Compared to a year ago, the capital city asking prices posted declines of 8% for both houses and units.

Days on Market Tables:

October 2019
City	< 30 days	30-60 days	60-90 days	90-180 days	> 180 days	Total Listings
Sydney	13,567	3,839	2,047	3,058	7,466	29,977
Melbourne	15,689	4,574	2,498	4,365	8,996	36,122
Brisbane	7,968	5,585	3,641	5,479	8,428	31,101
Perth	5,900	3,191	2,229	4,369	8,679	24,368
Adelaide	5,498	2,412	1,325	2,511	4,623	16,369
Canberra	1,814	569	318	645	1,183	4,529
Darwin	152	106	101	329	1,233	1,921
Hobart	635	281	200	326	696	2,138
National	78,061	34,998	23,437	44,739	137,639	318,874

 

September 2019
City	< 30 days	30-60 days	60-90 days	90-180 days	> 180 days	Total Listings
Sydney	12,089	3,434	1,786	3,634	7,830	28,773
Melbourne	13,718	4,216	2,350	4,874	9,666	34,824
Brisbane	7,692	5,208	3,349	5,696	8,573	30,518
Perth	5,209	2,874	2,091	4,632	8,925	23,731
Adelaide	4,623	2,183	1,410	2,863	4,746	15,825
Canberra	1,524	512	288	803	1,223	4,350
Darwin	140	123	130	322	1,254	1,969
Hobart	592	260	164	359	747	2,122
National	70,129	32,639	21,842	49,175	138,969	312,754

 

October 2018
City	< 30 days	30-60 days	60-90 days	90-180 days	> 180 days	Total Listings
Sydney	13,214	7,071	4,275	5,966	6,475	37,001
Melbourne	16,351	6,746	4,170	5,823	6,097	39,187
Brisbane	8,573	6,213	3,730	6,016	7,460	31,992
Perth	6,054	3,988	2,579	4,984	8,178	25,783
Adelaide	5,111	2,652	1,592	2,812	4,178	16,345
Canberra	1,887	680	369	599	890	4,425
Darwin	237	168	115	317	1,220	2,057
Hobart	675	280	181	239	696	2,071
National	78,667	44,480	28,576	52,451	130,840	335,014

Capital city listings overall rose for October, which is a fairly normal phenomena during the spring selling season.

Sydney and Melbourne have larger counts of new listings compared to this time last year, which should please real estate agents.

Old stock still appears to be declining but remains at somewhat elevated levels.

This may have made some vendors adjust their expectations over the month as asking prices in four of the eight capital cities actually fell.

Asking Prices

Capital City average asking prices decreased marginally by 0.7% for houses but increased 0.3% for units, over the month to 29 October 2019.  

House asking prices are now $935,400 and units $570,100. 

Compared to a year ago, the capital city asking prices posted declines of 0.8% for both houses and units.

Over the month, Melbourne, Canberra and Darwin recorded decreases in both houses and units, with Darwin showing a large decrease of 8.6% in unit asking prices.

Year-on-year Darwin’s unit prices also decreased 13.5%.

Brisbane, Adelaide and Hobart recorded increases in both houses and units with strongest growth occurring in Hobart’s unit market with a 4.8% increase.

Sydney’s median asking price for houses had decreased by 1.6% but there was a 0.7% increase for units.

Median price for houses is now $1,283.9m in Sydney.

Melbourne’s current median house price of $955.6k for houses, stills sits below its $1.008m high in April 2018.

Brisbane’s median house price increased by 0.8% over the month and continues to peak from 2009, now sitting at $631.8k.

from Property UpdateProperty Update https://propertyupdate.com.au/property-listings-rise-for-mid-spring/