The number of newly listed homes for sale has predictably fallen over recent weeks as seller interest declines with the onset of the typically quieter winter selling season.
The National Newly Listed Homes Index, exclusive to My Housing Market, that tracks newly advertised listings on a daily basis, reveals trend growth has declined by 6.0% over the five weeks ending June 10 and is now 7.9% lower than this year’s Index peak so far of 113.2 recorded in March.
New listings activity however remains well ahead of the results recorded over the same period a year ago – higher by 39.6% and reflecting the impact of Covid shutdowns on seller sentiment through Autumn 2020.
The re-introduction of the coronavirus restrictions in Melbourne over recent weeks has clearly impacted new seller activity, with new listings falling by 29.7% over the past four weeks compare to the previous four week
By comparison:
- Sydney new listings have fallen 5.1%
- Brisbane listings are down 4.6%
- Adelaide – 11.6% and…
- Perth new listings are lower by just 2.9% on the latest month-to-month comparisons.
Sydney is now the clear leader in new listing activity with numbers over the past month now 23.3% higher than Melbourne.
This is a significant turnaround compared to the previous month when Melbourne new listings were 3.5% higher than Sydney.
The onset of the relatively subdued winter selling season will as usual result in reduced new listing numbers however underlying housing market activity is set to remain at its strongest in years.
from Property UpdateProperty Update https://propertyupdate.com.au/new-listings-fall-as-subdued-winter-housing-market-approaches/
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