Fewer properties on the market for sale in December – Louis Christopher

The level of residential property listings around the nation declined during the month of December, with national stock levels decreasing by -8.5% and coming to a total of 337,744, according to figures released by SQM Research this week.

Year on year, stock was also down, revealing a -4.3% decrease on a national level since December 2012.

The Sydney property market continues to lead the way in terms of plummeting stock levels, recording a -19.6% fall in unsold properties on the market since December 2012, proving that stock is still being absorbed in this capital city at a faster rate than its counterparts.

Key Points

  • Total online residential listings decreased during the month of December, recording a fall of 8.5% and coming to a total of 337,744.
  • This figure represents a decrease of -4.3% when compared to the corresponding period of the previous year (December 2012).
  • Hobart was the only capital city to record a monthly rise in listings, increasing by 0.4% during December 2013 and coming to a total of 4,555.
  • Sydney recorded the most substantial monthly decrease in stock levels, falling by -26.4% during December 2013 and coming to a total of 20,479.
  • Darwin was the only capital city to record a yearly increase in stock levels, climbing 19.8% since the corresponding period of the previous year (December 2012).
  • Sydney has once again recorded the most substantial yearly decrease in stock levels, falling by -19.6% since the corresponding period of the previous year (December 2012).

 

December Properties for Sale

With Hobart being the only capital city to record even a marginal monthly increase (0.4%), most parts of the country recorded a decrease in stock levels, with Sydney and Canberra recording significant monthly falls.

This is a result anticipated by SQM Research, as the housing market regularly quietens over the Christmas period each year, with 2013 proving to be no different.

Yearly, most capital cities have also recorded decreases, with the exception of Darwin which has revealed quite a sizable yearly increase of 19.8%.

Sydney continues to lead the way in terms of plummeting stock levels, recording a -19.6% fall in unsold properties on the market since December 2012, proving that stock is still being absorbed in this capital city at a faster rate than its counterparts.

SQM Research’s Asking Price Index

SQM Research’s Asking Prices index has revealed that vendors of Sydney houses have lifted their asking prices by 14% over the last 12 months, further demonstrating the strength in the Sydney housing market recently.

Canberra was the only capital city to record a decline in asking prices for houses on a yearly basis, falling by 1.5% since this same week, 12 months earlier.

The capital city average asking price for houses now stands at $706,300 – a 7.2% increase year on year. For units, SQM Research has recorded $459,300 – a 2.3% increase year on year.

To see each capital city break down, click here –

http://sqmresearch.com.au/graph_median_weeks.php?region=nsw%3A%3ASydney&type=c&t=1

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Louis Christopher

About

Louis is recognised as one of Australia’s most respected and impartial research property analyst. He has extensive knowledge and experience of property and is regularly quoted in the media on his insights and is director of SQM Research.
Visit www.SQMResearch.com.au


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