Property Listings Decreased in December 2019

Figures released by SQM Research reveal national residential property listings decreased in December by 14.8%, falling from 338,971 in November 2019 to 288,966.

Compared to 12 months ago, listings were down by 12.0%.

All capital cities experienced decreases in property listings over the month with the largest decrease in Sydney of 28.7%, followed closely by Canberra of 28.1%.

Year-on-year listings also show similar declines for all capital cities with Sydney recording a significant decline of 30.1%. 

Stock on Market Table:

City	December 2018 Total	November 2019 Total	December 2019 Total	Monthly change %	Yearly change %
Sydney	32,738	32,101	22,888	-28.7%	-30.1%
Melbourne	36,221	40,003	30,247	-24.4%	-16.5%
Brisbane	30,962	33,205	28,368	-14.6%	-8.4%
Perth	25,975	25,781	21,721	-15.7%	-16.4%
Adelaide	15,904	18,139	15,514	-14.5%	-2.5%
Canberra	4,208	4,998	3,595	-28.1%	-14.6%
Darwin	1,995	1,884	1,492	-20.8%	-25.2%
Hobart	2,286	2,388	2,034	-14.8%	-11.0%
National	328,203	338,971	288,966	-14.8%	-12.0%

Key Points

• National residential property listings decreased in December by 8%, from 338,971 in November 2019 to 288,966. Compared to 12 months ago, listings were down by 12.0%.
  
• All capital cities experienced decreases in property sales listings over the month with the largest decrease in Sydney of 7%, followed closely by Canberra of 28.1%.
• Capital City asking prices increased by 4% for houses and 0.8% for units over the month to 31^st December 2019. Unit asking prices are now $577,600 and houses $977,900.
• Compared to a year ago, the capital city asking prices posted increases of 8% for houses and 1.0% for units.

The month of December traditionally records falls in properties listed for sale as it is the start of the festive and summer holiday period, whilst November shows a surge in listings as vendors are keen to sell before the holiday season approaches.

The recent devastating bushfires in NSW, Canberra and Victoria could also result in declines in property listings and impact property values in these regions in the coming months.

Days on Market Tables:

December 2019
City	< 30 days	30-60 days	60-90 days	90-180 days	> 180 days	Total Listings
Sydney	6,002	4,356	2,864	3,217	6,449	22,888
Melbourne	8,395	6,124	3,563	4,246	7,919	30,247
Brisbane	5,300	5,797	3,997	5,471	7,803	28,368
Perth	3,531	3,556	2,811	3,803	8,020	21,721
Adelaide	3,527	3,364	1,987	2,268	4,368	15,514
Canberra	807	671	412	549	1,156	3,595
Darwin	77	109	77	194	1,035	1,492
Hobart	552	310	186	345	641	2,034
National	49,796	40,835	28,528	44,565	125,242	288,966

 

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

 

December 2018
City	< 30 days	30-60 days	60-90 days	90-180 days	> 180 days	Total Listings
Sydney	5,098	7,578	6,226	6,599	7,237	32,738
Melbourne	6,903	8,690	7,130	6,585	6,913	36,221
Brisbane	5,216	6,849	5,429	5,843	7,625	30,962
Perth	4,375	4,866	3,836	4,379	8,519	25,975
Adelaide	3,334	3,539	2,283	2,414	4,334	15,904
Canberra	919	1,070	772	620	827	4,208
Darwin	132	190	145	266	1,262	1,995
Hobart	646	433	267	284	656	2,286
National	42,201	39,074	43,914	69,011	133,889	328,089

Asking Prices

Capital City asking prices increased by 2.4% for houses and 0.8% for units, over the month to 31^st December 2019. The year ended with unit asking prices at $577,600 and houses $977,900.

Compared to a year ago, the capital city asking prices posted increases of 5.8% for houses and 1.0% for units.

Over the month, Sydney and Hobart were the only capital cities to record increases in both house and unit prices.  Darwin continues to record declines in both house and unit prices of 2.0% and 1.2% respectively.

All other capital cities recorded increases in house prices, but experienced marginal declines in unit prices over the month.

The largest fall in the unit market was Perth with a 1.6% decline but the city’s house price increased by 0.3%.

Hobart’s unit prices had the strongest growth of 2.0%.

Overall, Melbourne recorded the strongest price growth of 4.2% for houses but had declines in the unit market of 0.6%.  Melbourne’s median house asking price has now reached back to over one million dollars.

The last time this occurred was in the period between April to June 2018.

The median asking price of a Melbourne house now sits at $1,027,600.

Recording a 2.4% increase in asking house prices over the month, the Sydney house market has also climbed back to its 2017/2018 highs of over $1.3 million.

The median asking house price in Sydney is now $1,341,400.

from Property UpdateProperty Update https://propertyupdate.com.au/property-listings-decreased-in-december-2019/