New Property Listings Surged in January 2020

National residential property listings increased in January by 2.2% from 288,966 in December 2019 to 295,295 according to SQM Research.

However, compared to 12 months ago, listings were down by 10.0%.

The month of January traditionally records small falls in properties listed for sale as the market is still in a summer holiday mode however, the positive start in new listings shows vendors are now keen to sell and we could see further increases in the coming months.

All capital cities experienced increases in property listings over the month with the largest increase in Sydney of 5.1%, followed closely by Hobart with 4.9% increase.

Canberra had the smallest increase of 0.6% listings.

Year-on-year listings show declines for all capital cities with Sydney recording a significant decline of 24.8% and Darwin a 24.7% decline this time last year.

However new listings (listings less than 30 days old) recorded a surge for the month and are higher than same levels recorded in January 2019.

Key Points

• National residential property listings increased in January by 2% from 288,966 in December 2019 to 295,295. Compared to 12 months ago, listings were down by 10.0%.
• All capital cities experienced increases in property sales listings over the month with the largest increase in Sydney of 1%, followed closely by Hobart with 4.9% increase.
• Capital City asking prices decreased by 4% for both houses and units, over the month to 28^th January 2020. Unit asking prices are now $575,100 and houses $973,500.
• Compared to a year ago, the capital city asking prices posted increases of 5% for houses but a 0.1% decrease for units.

 

Stock on Market Table:

City	January 2019 Total	December 2019 Total	January 2020 Total	Monthly change %	Yearly change %
Sydney	31,993	22,888	24,062	5.1%	-24.8%
Melbourne	35,395	30,247	31,058	2.7%	-12.3%
Brisbane	31,086	28,368	29,231	3.0%	-6.0%
Perth	26,136	21,721	22,425	3.2%	-14.2%
Adelaide	15,946	15,514	15,916	2.6%	-0.2%
Canberra	4,122	3,595	3,617	0.6%	-12.3%
Darwin	2,015	1,492	1,518	1.7%	-24.7%
Hobart	2,318	2,034	2,134	4.9%	-7.9%
National	328,089	288,966	295,295	2.2%	-10.0%

 

Days on Market Tables:

January 2020
City	< 30 days	30-60 days	60-90 days	90-180 days	> 180 days	Total Listings
Sydney	8,235	2,075	2,973	4,463	6,316	24,062
Melbourne	8,435	3,543	4,630	6,335	8,115	31,058
Brisbane	5,688	3,542	4,758	7,038	8,205	29,231
Perth	4,011	2,142	3,078	4,934	8,260	22,425
Adelaide	3,444	2,241	2,375	3,309	4,547	15,916
Canberra	826	330	526	735	1,200	3,617
Darwin	122	68	88	201	1,039	1,518
Hobart	461	288	299	406	680	2,134
National	47,927	28,075	33,675	56,453	129,165	295,295

 

Asking Prices

Capital City property asking prices decreased by 0.4% for both houses and units over the month to 28^th January 2020.

The year commenced with unit asking prices at $575,100 and houses $973,500.

Compared to a year ago, the capital city asking prices posted increases of 5.5% for houses but a 0.1% decline for units.

Over the month, Melbourne, Brisbane, Adelaide and Hobart recorded increases in both house and unit prices.

Sydney was the only city to post declines in both, houses and units, 0.6% for houses and 0.7% for unit prices.  Perth and Canberra recorded minor decreases in house prices of 1.1% for Perth and 0.4% for Canberra houses.

Darwin house market has made a turnaround with increase of 0.6% in house prices however unit prices declined 0.4%.

Canberra had the strongest growth of 1.4% in the unit market whilst Hobart’s house prices had the strongest growth of 1.3%.  

SQM Research Weekly Asking Prices Index Week ending: 28 January 2020 Asking Price Change on previous week Rolling month % change 12 month % change Sydney All Houses 1,333.3 11.6 -0.6%  6.9% All Units 716.1 -2.4 -0.7%  1.1% Melbourne All Houses 1,030.2 -5.2 0.2%  5.8% All Units 550.3 1.1 0.1%  -0.6% Brisbane All Houses 640.7 -0.9 0.5%  3.3% All Units 372.6 0.8 0.6%  -0.7% Perth All Houses 649.5 -2.0 -1.1%  -2.5% All Units 376.1 1.1 0.4%  -3.7% Adelaide All Houses 525.1 1.0 0.7%  2.1% All Units 302.2 0.6 0.2%  0.4% Canberra All Houses 819.2 -2.6 -0.4%  -0.8% All Units 438.1 3.7 1.4%  2.9% Darwin All Houses 569.6 3.2 0.6%  -2.8% All Units 307.8 0.4 -0.4%  -23.3% Hobart All Houses 551.5 -3.4 1.3%  12.1% All Units 343.5 3.4 0.5%  8.0% National All Houses 586.8 1.7 -0.1%  3.5% All Units 385.8 1.9 0.7%  1.8% Cap City Average All Houses 973.5 2.5 -0.4%  5.5% All Units 575.1 0.3 -0.4%  -0.1%

Source: www.sqmresearch.com.au

from Property UpdateProperty Update https://propertyupdate.com.au/new-property-listings-surged-in-january-2020/