National residential property listings fell marginally during November.
The number of listed properties fell to 362,560 in November 2015, decreasing 0.4% from the October 2015 surge.
Adelaide, Melbourne, Canberra and to a lesser extent Hobart experienced monthly rises.
Meanwhile monthly falls were recorded for Darwin, Sydney, Perth and Brisbane.
Sydney residential property listings have weighed down the national figure this month.
- Total online national residential listings fell during November 2015 to 362,560.
- This figure represents a monthly fall of 0.3% when compared to October 2015.
- Adelaide recorded the largest monthly rise in stock levels, rising by 2.8% during November 2015 to17,826.
- Hobart recorded the biggest yearly decline, with listings falling by 9.1%, reducing the number of properties for sale to 3,891.
- Median Sydney house asking prices have fallen over November 2015, with the current asking price for a house at $1,139,600.
Year-on-year results indicate that residential property listings are up for both Sydney and Darwin compared to this time last year (November 2014).
Sydney experienced a yearly rise of 11.8%, with residential property listings climbing from 25,577 to 28,597.
Darwin also experienced excessive yearly growth with sale listings up 11.4% based on a total 2,042 listings.
These figures indicate that the number of property sellers in both residential markets has increased.
In contrast, year-on-year results indicate that Hobart and to a lesser extent Melbourne experienced excessive yearly falls.
Hobart recorded the biggest yearly change, with sale listings falling by 9.1%, reducing the number of properties for sale to 3,891.
Melbourne also recorded yearly falls with records indicating a yearly change of 7.0%.
It is a little abnormal to record falls in listings during November as the annual spring selling season reaches a peak during this month.
Nevertheless we were expecting a pullback of sorts due to the massive surge in listings recorded in October.
Overall I think it is a mixed property market and nothing released today has changed my view on this.
Median Asking Prices
Asking prices for Sydney dwellings also experienced falls over November, with houses recording a median asking price of $1,139,600, while the median asking price for units is $637,400.
In contrast, Canberra asking prices recorded a climb of 1.4% for houses and 0.7% for units over November, with the median asking price for houses now $625,700.