National residential property listings fell in September 2021 by 0.6% to 214,566 from 215,911 in August 2021.
- National residential property listings fell in September 2021 by 0.6% to 214,566 from 215,911 in August. Compared to 12 months ago, listings dropped 9%.
- Nationally, new listings (Less than 30 days) rose 11.9% over September, with 73,812 new properties added onto the market. New listings are up 18% over the year. Old listings dropped 4.1% in September and were down by 54% over the
- Capital city asking house prices rose 2.2% and units 0.7% over the four weeks to 5 October 2021.
The largest monthly falls in property listings in September were in Canberra and Brisbane.
The demand for property in Brisbane appears to be surging with large falls in stock, making for many buyers competing with each other with only a few properties for sale.
Over the year, property listings are trending downwards nationwide.
Compared to 12 months ago, national listings fell 25.9%, with the biggest falls in Sydney, Hobart, Adelaide, Canberra, and Brisbane.
The high rate of buyer demand and lockdowns is ensuring that there was a shortage of properties for sale in the first month of spring.
Going forward, we do expect a strong pick-up in October and November as we had last year given the near end of lockdowns for Melbourne and Sydney.
Nationally, new listings (Less than 30 days) rose 11.9% over September 2021 to 73,812 properties on the market, though they rose 18% over the year.
New listings dropped the most in Canberra followed by Hobart down by 15.9% and 5.8%, respectively.
Over the year, new listings rose the most in Darwin followed by Sydney by 31.4% and 23.1% which is to be expected for the start of spring.
As we enter into the traditional spring selling season, there remains a shortage of listings across Australia.
Demand continues to outstrip supply which is pushing up prices despite the uncertainties and restrictions surrounding Covid19.
Going forward we now expect a rise in housing listings for October and November due to the imminent lifting of lockdown in Sydney and Melbourne.
However, the expected rise in listings is unlikely to create a housing slowdown prior to Christmas as low-interest rates continue to stimulate the housing market and the expected economic uplift following the end of lockdown will also likely create a stimulus for housing.
Over the past 30 days to 5 October 2021, Sydney asking prices rose by 4.1% for houses, yet fell by 0.5% for units.
Asking prices for houses in Melbourne and Brisbane rose by 0.9% and 3.1% and rose by 0.9% for units.
Perth and Adelaide asking prices for houses rose by 1% and 1.9%, while units fell by 0.5% and 1.2%.
Canberra asking prices for houses fell by 1.2%.
Darwin and Hobart asking prices for houses rose by 1.9% and 1.3% and rose for units by 0.1% and 0.6%.
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