Property Listings Increased in November

Figures released reveal national residential property listings increased in November by 6.3%, from 318,874 in October 2019 to 338,971.

Compared to 12 months ago, listings were down by 6.3%.

All capital cities experienced an increase in property sales listings over the month with the exception of Darwin which continues to experience decreases in listings, with November’s decrease at 1.9%. Darwin’s yearly decrease was 12.3%.

Hobart recorded the highest monthly increase in property listings of 11.7%, followed by Adelaide with a 10.8% increase, Melbourne 10.7% and Canberra a 10.4% increase.

Sydney recorded a 7.1% increase over the month and is a large improvement year-on-year where the city’s listings declined by a significant 19.3%.

New listings drove the monthly rise with stock under 30 days old increasing by 5.4% for the month.

While stock for over 180 days declined by 3.6%.

Year-on-year listings show declines for all cities except Canberra which recorded a 0.4% increase.

Perth decreased by 8.8% and Melbourne by 8.5%.

Hobart and Adelaide declined by smaller margins over the year, 1.6% and 0.8% respectively.

Stock on Market Table:

City	November 2018 Total	October 2019 Total	November 2019 Total	Monthly change %	Yearly change %
Sydney	39,772	29,977	32,101	7.1%	-19.3%
Melbourne	43,727	36,122	40,003	10.7%	-8.5%
Brisbane	34,683	31,101	33,205	6.8%	-4.3%
Perth	28,273	24,368	25,781	5.8%	-8.8%
Adelaide	18,281	16,369	18,139	10.8%	-0.8%
Canberra	4,979	4,529	4,998	10.4%	0.4%
Darwin	2,148	1,921	1,884	-1.9%	-12.3%
Hobart	2,427	2,138	2,388	11.7%	-1.6%
National	361,619	318,874	338,971	6.3%	-6.3%

 

Days on Market Tables:

November 2019
City	< 30 days	30-60 days	60-90 days	90-180 days	> 180 days	Total Listings
Sydney	14,299	4,863	2,505	3,240	7,194	32,101
Melbourne	17,712	6,129	3,030	4,360	8,772	40,003
Brisbane	8,658	5,983	4,110	6,029	8,425	33,205
Perth	6,129	4,000	2,659	4,152	8,841	25,781
Adelaide	6,211	3,180	1,736	2,365	4,647	18,139
Canberra	1,948	703	451	546	1,350	4,998
Darwin	168	113	92	262	1,249	1,884
Hobart	801	291	192	332	772	2,388
National	82,529	42,837	27,948	45,195	140,462	338,971

 

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

 

November 2018
City	< 30 days	30-60 days	60-90 days	90-180 days	> 180 days	Total Listings
Sydney	13,011	7,508	5,289	6,670	7,294	39,772
Melbourne	15,823	9,132	5,030	6,850	6,892	43,727
Brisbane	9,024	6,635	4,811	6,252	7,961	34,683
Perth	7,121	4,444	3,169	4,714	8,825	28,273
Adelaide	5,960	3,024	1,823	2,980	4,494	18,281
Canberra	1,961	1,077	475	622	844	4,979
Darwin	255	152	130	284	1,327	2,148
Hobart	875	334	224	269	725	2,427
National	83,066	48,996	36,123	54,986	138,448	361,619

 

November’s increase in listings indicates the return to a normal spring selling season.

The rises were primarily driven by new listings.

While old stock kept falling.

This suggests to me that sales volumes are on the rise and that sellers are starting to respond to the rising market.

Asking Prices

Capital City asking prices increased marginally by 1.6% for houses and 0.6% for units over the month to 3 December 2019.

Unit asking prices are now $573,100 and houses $954,800.

Compared to a year ago, the capital city asking prices posted increases of 2.4% for houses and increases of 0.7% for units.

Over the month, Sydney, Melbourne, Adelaide and Canberra all recorded increases in both houses and units, with Melbourne showing the strongest growth of 2.2% in the housing market followed by Sydney with a 1.9% increase in house prices.

Brisbane and Hobart both posted increases in house prices – 0.4% for Brisbane and 0.7% for Hobart – however both cities had marginal declines in the unit market of 0.1% for Brisbane and 1.3% for Hobart.  Perth’s housing market remained steady but unit prices have increased 0.9%.

Darwin however, continues its decline in both houses (1.0%) and units (1.3%).

from Property UpdateProperty Update https://propertyupdate.com.au/property-listings-increased-in-november/