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.
SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
NEED HELP LISTENING TO MICHAEL YARDNEY'S PODCAST FROM YOUR PHONE OR TABLET?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
PREFER TO SUBSCRIBE VIA EMAIL?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.