As they do every year, new listings increased over the first month of spring, with further additions of stock to the market expected to ramp up until the end of year slow-down in December.
In addition to the number of listings being added to the market CoreLogic RP Data’s lead listings indicator is also showing a 1.6 per cent month-on-month change (seasonally adjusted), with Tasmania (+5.2 per cent) and Victoria (3.4 per cent) showing the most activity of listings being prepared for sale.
In terms of listing stock, the largest proportionate increases this month relative to last month have been observed in Brisbane, where the number of residential properties added to the market over the four weeks ending 27 September was 12.9 per cent higher than the four week period a month earlier.
Following Brisbane was Hobart (12.5 per cent higher) and Adelaide (11.0 per cent higher).
Despite the increase in new listings, total stock levels remain just 1.2 per cent higher relative to one year ago across the combined capital cities, while nationally; total listings are -0.6 per cent lower.
As at 27 September, there were 234,094 residential properties available for sale across Australia, while one year ago, there were 235,399.
When compared to last year, across the capital cities, total listings are higher in Perth (+20.7 per cent), Darwin (+12.3 per cent) and for the first time this year, Sydney (+4.7 per cent). In Sydney, one of the reasons the total stock levels are now higher than one year ago is likely due to the increase in stock being added to the market.
New listings across the city are 16 per cent higher than one year ago, to put this into perspective, over the comparable 28 day period one year ago, 7,431 listings were newly added to the market, compared to 8,617 this year.
Across the individual states and territories, there are more listings than one year ago in Western Australia, Northern Territory (both +12.9 per cent) and to a lesser degree, South Australia (+2.2 per cent), while across these three regions, the number of new listings added to the market over the past four weeks is lower than one year ago.