National Property listings decline marginally in January

Figures reveal national residential listings declined marginally by 0.03% in January 2019 to 328,089 from 328,203 in December 2018.

Both Sydney and Melbourne were down 2.3%, whilst Canberra dropped 2.0%.

However, all other capital cities were marginally up on residential listings in January. Buy Home In Australia

Hobart recorded the largest increase at 1.4%.

Seasonally it is normal for large listing declines to be recorded in January as the property market goes into hibernation for the holiday period. So SQM Research regards the minimal declines as a weak result for the market.

Compared to a year ago, national listings rose 8.0%, with Sydney, Melbourne and Canberra’s year-on-year listings increasing the most – Melbourne up 42.3%, Canberra 24.6% and Sydney 22.3%.

Year-on-year results for Hobart shows a yearly decline of 1.9%, with residential property listings dropping from 2,362 in January 2018 to 2,318 in January 2019.

Darwin also experienced yearly declines of sale listings of 0.6%.

City January  2018 Total December 2018 Total January 2019Total Monthly change % Yearly change %
Adelaide 15,620 15,904 15,946 0.3% 2.1%
Brisbane 28,882 30,962 31,086 0.4% 7.6%
Canberra 3,307 4,208 4,122 -2.0% 24.6%
Darwin 2,028 1,995 2,015 1.0% -0.6%
Hobart 2,362 2,286 2,318 1.4% -1.9%
Melbourne 24,881 36,221 35,395 -2.3% 42.3%
Perth 24,735 25,975 26,136 0.6% 5.7%
Sydney 26,150 32,738 31,993 -2.3% 22.3%
National 303,901 328,203 328,089 -0.03% 8.0%

Key Points

  • National residential listings declined marginally by 03% in January 2019 to 328,089 from 328,203 in December 2018. 
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  • Both Sydney and Melbourne were down 3%, whilst Canberra dropped 2.0%.
  • All other capital cities were marginally up on residential listings in January.
  • Hobart recorded the largest increase at 4%.
  • Capital City asking prices for units and houses declined by 0.4% and 2.2% respectively, for the month to 5 February 2019.

Listings in January recorded a very minor decrease, with some cities actually recording increases.

This is abnormal and concerning.

It implies that vendors had a terrible spring selling season with most still trying to move their properties in January.

Many have not been able to sell.

We are now expecting a surge in listings over February.

Asking Prices

Capital City asking prices for units and houses declined by 0.4% and 2.2% respectively, for the month to 5 February 2019.

Unit asking prices are now $572,800 and houses $915,900. Regional Property Market

The largest monthly decline was in Sydney, where house asking prices declined by 1.7% but did manage a modest 0.3% increase in house prices.

Hobart posted increases in both unit and house asking prices over the month, 1.7% and 0.1% respectively.

However, both unit and house asking prices declined in Brisbane and Melbourne over the month.

Darwin experienced a large 5.5% increase in unit prices.

Year-on-year capital city asking prices also experienced declines of 2.6% for units and 6.2% for houses.

Year-on-year Hobart continued to show the strongest growth for both houses and units with a 4.0% increase in houses and 7.0% for units.

Canberra also experienced yearly growth with 2.7% increase in houses and 3.8% increase in units.

SQM Research Weekly Asking Prices Index
Week ending: 5 Feb 2019 Asking Price Change on
prev week
Rolling month
% change
12 month
% change
Canberra All Houses 826.5 0.7 0.3% 2.7%
All Units 423.6 -2.1 -1.5% 3.8%
Sydney All Houses 1,240.1 -7.7 -1.7% -10.8%
All Units 707.1 -1.4 0.3% -4.5%
Darwin All Houses 584.8 -1.4 -0.1% -3.1%
All Units 403.6 2.3 5.5% 3.8%
Brisbane All Houses 620.0 -0.5 -0.0% 1.2%
All Units 374.9 -0.3 -0.3% -1.7%
Adelaide All Houses 515.3 1.2 -0.2% 0.8%
All Units 301.1 -0.0 0.3% -1.7%
Hobart All Houses 496.0 3.9 0.1% 4.0%
All Units 318.1 0.1 1.7% 7.0%
Melbourne All Houses 963.9 -9.6 -1.2% -2.9%
All Units 552.5 -1.0 -0.1% 2.7%
Perth All Houses 665.8 -0.0 0.0% -2.6%
All Units 389.7 -0.7 -0.0% -2.5%
National All Houses 566.6 -0.3 -0.7% -1.7%
All Units 376.3 -2.9 -0.4% 0.0%
Cap City Average All Houses 915.9 -6.7 -2.2% -6.2%
All Units 572.8 -2.8 -0.4% -2.6%

 Source: www.sqmresearch.com.au

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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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