Property Listings Decreased in January

National residential property listings decreased in January 2021 by 2.9%, falling from 272,999 in December 2020 to 265,116.

Compared to 12 months ago, listings were down by 10.5%.

All capital cities experienced decreases in property listings over the month except for Perth which had a 0.1% increase in listings.

The largest decrease was in Melbourne of 4.7%.

Year-on-year listings also show larger declines for most capital cities with the exception of Sydney and Melbourne, both recording increases of 4.5% and 21.1%, respectively.

Stock on Market Table:

City	January 2020 Total	December 2020 Total	January 2021 Total	Monthly change %	Yearly change %
Sydney	24,062	26,038	25,149	-3.4%	4.5%
Melbourne	31,058	39,475	37,617	-4.7%	21.1%
Brisbane	29,231	26,643	25,720	-3.5%	-12.0%
Perth	22,425	21,478	21,501	0.1%	-4.1%
Adelaide	15,916	13,410	13,391	-0.1%	-15.9%
Canberra	3,617	3,350	3,252	-2.9%	-10.1%
Darwin	1,518	1,281	1,308	2.1%	-13.8%
Hobart	2,134	1,647	1,628	-1.2%	-23.7%
National	296,161	272,999	265,116	-2.9%	-10.5%

New Listings (30 days)

Nationally, new listings (30 days) decreased by a 24.46% over the course of January with 16,234 less properties on the market.

Hobart’s new listings decreased by a significant 33.28%, followed by Canberra which decreased by 26.10%.  Sydney recorded the lowest decrease in new listings of 2.42%.

Days on Market Tables:

January 2021
City	< 30 days	30-60 days	60-90 days	90-180 days	> 180 days	Total Listings
Sydney	8,144	2,955	3,382	4,669	5,999	25,149
Melbourne	10,787	6,460	5,245	4,921	10,204	37,617
Brisbane	5,710	4,758	4,135	4,759	6,358	25,720
Perth	4,351	3,495	3,245	4,409	6,001	21,501
Adelaide	3,103	2,509	2,073	2,398	3,308	13,391
Canberra	923	483	368	508	970	3,252
Darwin	138	130	129	170	741	1,308
Hobart	443	366	131	227	461	1,628
National	50,137	38,816	30,565	44,503	101,095	265,116

 

December 2020
City	< 30 days	30-60 days	60-90 days	90-180 days	> 180 days	Total Listings
Sydney	8,346	4,999	2,797	4,205	5,691	26,038
Melbourne	14,152	7,231	4,057	3,875	10,160	39,475
Brisbane	6,668	5,873	3,259	4,527	6,316	26,643
Perth	4,963	4,118	2,652	3,941	5,804	21,478
Adelaide	3,938	2,653	1,479	2,076	3,264	13,410
Canberra	1,249	561	331	359	850	3,350
Darwin	164	161	92	154	710	1,281
Hobart	664	201	120	187	475	1,647
National	66,371	39,912	25,137	39,650	101,929	272,999

 

January 2020
City	< 30 days	30-60 days	60-90 days	90-180 days	> 180 days	Total Listings
Sydney	8235	2075	2973	4463	6316	24062
Melbourne	8435	3543	4630	6335	8115	31058
Brisbane	5688	3542	4758	7038	8205	29231
Perth	4155	2219	3188	5111	7752	22425
Adelaide	3444	2241	2375	3309	4547	15916
Canberra	826	330	526	735	1200	3617
Darwin	122	68	88	201	1039	1518
Hobart	461	288	299	406	680	2134
National	48049	28164	33809	56644	129495	296161

Commentary

The month of January traditionally records falls in properties listed for sale as the market is still in a summer holiday mode.

This year was no exception. However, when we consider the number of new listings compared to January 2020, there was a material rise in nearly all cities.

This finding is consistent with the observed early start to the auction market over January and February.

Asking Prices

Capital City asking prices declined by 0.7% for houses but increased 0.2% for units, over the month to 2 February 2021.

The new year commenced with unit asking prices at $565,600 and houses $996,800.

Compared to a year ago, the capital city asking prices posted increases of 2.0% for houses but a decline of 2.1% for units.

Over the month, Melbourne and Canberra were the only capital cities to record decreases in both house and unit prices – 0.4% and 0.2% respectively for Melbourne and 0.2% and 0.7% for Canberra house and unit prices.

Perth, Adelaide and Darwin all recorded increases in both house and unit prices over the month to 2 February 2021.

Sydney recorded a decline in house prices of 1.7% but an increase in unit prices of 0.2%.

Brisbane also recorded decline of 0.3% in house prices and an increase of 0.6% in unit prices. Hobart recorded an increase of 0.6% in house prices and decline of 0.5% in unit prices.

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