Property Listings record abnormal decrease

National residential property listings decreased in September by 4.0%, from 325,693 in August 2019 to 312,754.  

Compared to 12 months ago, listings were down by 6.9%.

All states experienced a decrease in property sales listings over the month, with Hobart experiencing the highest decrease at 6.4% followed by Melbourne and Perth both with a 5.8% decrease. Sydney was not far behind with a 5.7% decrease. Downturn

The lowest decrease was Canberra of 1.1% over the month.

Year-on-year Sydney’s listings declined by a significant 20.4%.

Perth and Darwin both recorded a 9.0% yearly decrease.

Melbourne, Brisbane and Adelaide declined by smaller margins.

Perth and Darwin’s year-on-year listings also saw declines of 4.6% and 3.6% respectively.

Canberra and Hobart’s year-on-year listing increased by 3.1% and 8.4%, respectively.

Key Points

  • National residential property listings decreased in September by 0%, from 325,693 in August 2019 to 312,754. Compared to 12 months ago, listings were down by 6.9%.
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  • All states experienced a decrease in property sales listings over the month, with Hobart experiencing the highest decrease at 4% followed by Melbourne and Perth both with a 5.8% decrease. Sydney was not far behind with a 5.7% decrease. The lowest decrease was Canberra of 1.1% over the month.
  • Capital City asking prices increased marginally by 5% for houses and 1.4% for units, over the month to 1 October 2019. Unit asking prices are now $568,300 and houses $942,400.
  • Compared to a year ago, the capital city asking prices posted declines of 1% for houses and declines of 0.7% for units.

Stock on Market Table:

City September 2018

Total

August 2019

Total

September 2019

Total

Monthly change % Yearly change %
Sydney 36,128 30,512 28,773 -5.7% -20.4%
Melbourne 37,000 36,962 34,824 -5.8% -5.9%
Brisbane 31,998 32,059 30,518 -4.8% -4.6%
Perth 26,071 25,180 23,731 -5.8% -9.0%
Adelaide 16,890 16,372 15,825 -3.3% -6.3%
Canberra 4,012 4,399 4,350 -1.1% 8.4%
Darwin 2,163 2,033 1,969 -3.1% -9.0%
Hobart 2,058 2,268 2,122 -6.4% 3.1%
National 335,854 325,693 312,754 -4.0% -6.9%

 

Days on Market Tables:

September 2019
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 12,089 3,434 1,786 3,634 7,830 28,773
Melbourne 13,718 4,216 2,350 4,874 9,666 34,824
Brisbane 7,692 5,208 3,349 5,696 8,573 30,518
Perth 5,209 2,874 2,091 4,632 8,925 23,731
Adelaide 4,623 2,183 1,410 2,863 4,746 15,825
Canberra 1,524 512 288 803 1,223 4,350
Darwin 140 123 130 322 1,254 1,969
Hobart 592 260 164 359 747 2,122
National 70,129 32,639 21,842 49,175 138,969 312,754

 

August 2019
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 11,637 3,080 2,413 5,005 8,377 30,512
Melbourne 13,485 4,170 2,964 5,984 10,359 36,962
Brisbane 7,703 4,870 3,832 6,737 8,917 32,059
Perth 5,146 2,749 2,483 5,491 9,311 25,180
Adelaide 3,994 2,385 1,638 3,424 4,931 16,372
Canberra 1,313 505 357 986 1,238 4,399
Darwin 164 144 148 310 1,267 2,033
Hobart 548 281 223 386 830 2,268
National 65,803 31,682 25,398 57,530 145,280 325,693

 

September 2018
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 13,609 6,455 3,529 6,227 6,308 36,128
Melbourne 14,842 6,544 3,731 5,746 6,137 37,000
Brisbane 8,923 5,616 3,897 6,077 7,485 31,998
Perth 5,823 3,503 2,583 5,680 8,482 26,071
Adelaide 5,087 2,372 1,668 3,291 4,472 16,890
Canberra 1,643 577 403 535 854 4,012
Darwin 242 168 132 364 1,257 2,163
Hobart 697 260 143 254 704 2,058
National 79,053 40,423 27,303 55,724 133,351 335,854

September’s decline in listings was an abnormal result.

Listings normally rise for the first month of the spring selling season.

New listings did rise. Sydney Market Down

It just that older listings recorded a large decline.

It suggests stock is being absorbed at a quicker rate.

Turning to Sydney, the evidence, by way of the fall in listings, the rise in auction clearance rates and the accelerated rise in asking prices, all suggest that the city has indeed entered into a new housing boom.

Melbourne is not that far behind the mark as well.

I think we can expect to record rapid rises in dwelling prices for our two largest cities at least in the December quarter and likely beyond.

Asking Prices

Capital City asking prices increased marginally by 1.5% for houses and 1.4% for units, over the month to 1 October 2019.

Unit asking prices are now $568,300 and houses $942,400.

Compared to a year ago, the capital city asking prices posted declines of 0.1% for houses and declines of 0.7% for units.

Over the month, Sydney, Melbourne, Brisbane and Hobart all recorded increases in both houses and units, with Melbourne showing the strongest growth of 2.1% in the housing market and Hobart recording a 3.8% growth in the unit market.Businessman With Coins And House Model Using Calculator

Perth’s house and unit market has declined marginally by 0.5% and 0.1% respectively.

As did Darwin’s asking prices, declining 0.9% for houses and 0.8% for units.

Sydney’s median house asking price has increased by 1.9% for houses and 0.8% for units.

Median price for houses is now $1.305m in Sydney, not far behind its peak in Jan 2018 of $1.39m.

Melbourne current median house price is $959.6k for houses, inching closer to its $1.008m high in April 2018.

Brisbane’s median house price has hit its peak of $627.1k since 2009.

SQM Research Weekly Asking Prices Index
Week ending: 01 October 2019 Asking Price Change on
previous week
Rolling month
% change
12 month
% change
Sydney All Houses 1,305.1 5.1 1.9% -0.6%
All Units 698.1 2.4 0.8% -1.4%
Melbourne All Houses 959.6 4.3 2.1% -0.9%
All Units 547.9 1.2 1.4% -0.2%
Brisbane All Houses 627.1 1.2 1.2% 2.2%
All Units 371.2 0.4 0.3% -2.6%
Perth All Houses 649.8 0.0 -0.5% -1.7%
All Units 378.6 -0.1 -0.1% -2.5%
Adelaide All Houses 516.8 1.3 0.7% 2.1%
All Units 297.3 -0.6 -0.4% -1.4%
Canberra All Houses 809.7 -4.2 -1.2% -1.1%
All Units 440.3 2.6 2.1% 4.5%
Darwin All Houses 588.2 0.4 -0.9% 0.9%
All Units 349.5 -0.0 -0.8% -5.7%
Hobart All Houses 521.8 0.3 0.9% 5.9%
All Units 330.9 4.7 3.8% 8.3%
National All Houses 578.2 5.7 0.2% 0.9%
All Units 381.8 1.7 -1.6% 3.0%
Cap City Average All Houses 942.4 5.7 1.5% -0.1%
All Units 568.3 1.4 1.4% -0.7%

Source: www.sqmresearch.com.au

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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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