New Property Listings Increased in February

National residential property listings increased marginally in February by 0.2% from 295,295 in January 2020 to 295,969.

Compared to 12 months ago, listings were down by 13.8%. Buy Home In Australia

Sydney, Melbourne and Canberra were the only capital cities to experience increases in property listings over the month with the largest increase in Melbourne of 10.0%, followed closely by Sydney with a 9.9% increase.

Canberra had a smaller 3.8% increase in listings.

Hobart, Adelaide, Perth and Brisbane all recorded a decline in property listings.

Year-on-year listings show declines for all capital cities with Sydney recording a significant decline of 26.0% and Darwin a 25.7% decline this time last year.

Key Points

  • National residential property listings increased marginally in February by 2% from 295,295 listings in January 2020 to 295,969. Compared to 12 months ago, listings were down by 13.8%.
  • Sydney, Melbourne and Canberra were the only capital cities to experience increases in property sales listings over the month with the largest increase in Melbourne of 0%.
  • Capital City asking prices decreased by 7% for units but increased 0.7% for houses over the month to 3rd March 2020. Unit asking prices are now $573,700 and houses $983,900.
  • Compared to a year ago, the capital city asking prices posted increases of 3% for houses and an increase of 0.4% for units.

Stock on Market Table:

City February 2019 Total January 2020 Total February 2020 Total Monthly change % Yearly change %
Sydney 35,704 24,062 26,435 9.9% -26.0%
Melbourne 38,776 31,058 34,163 10.0% -11.9%
Brisbane 32,172 29,231 28,867 -1.2% -10.3%
Perth 27,031 22,425 21,737 -3.1% -19.6%
Adelaide 16,822 15,916 15,441 -3.0% -8.2%
Canberra 4,637 3,617 3,755 3.8% -19.0%
Darwin 1,998 1,518 1,485 -2.2% -25.7%
Hobart 2,393 2,134 1,994 -6.6% -16.7%
National 343,190 295,295 295,969 0.2% -13.8%

The month of February traditionally records a rise in properties listed for sale as the new year is well underway, this is evident in Sydney, Melbourne and Canberra whereby new listings skyrocketed by over 60% compared to January.

However, we are down for the year in all cities as absorption rates have picked up.

There are many more buyers now compared to last year and so surplus stock is being sold and taken off the market.

Days on Market Tables:

February 2020
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 13,450 1,792 1,201 4,241 5,751 26,435
Melbourne 15,802 2,111 2,109 6,561 7,580 34,163
Brisbane 8,140 3,352 2,615 6,798 7,962 28,867
Perth 5,306 2,139 2,002 4,407 7,883 21,737
Adelaide 4,511 1,682 1,595 3,211 4,442 15,441
Canberra 1,339 244 184 809 1,179 3,755
Darwin 173 75 47 175 1,015 1,485
Hobart 605 173 268 306 642 1,994
National 71,955 20,356 22,201 55,565 125,892 295,969

January 2020

City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 8,235 2,075 2,973 4,463 6,316 24,062
Melbourne 8,435 3,543 4,630 6,335 8,115 31,058
Brisbane 5,688 3,542 4,758 7,038 8,205 29,231
Perth 4,011 2,142 3,078 4,934 8,260 22,425
Adelaide 3,444 2,241 2,375 3,309 4,547 15,916
Canberra 826 330 526 735 1,200 3,617
Darwin 122 68 88 201 1,039 1,518
Hobart 461 288 299 406 680 2,134
National 47,927 28,075 33,675 56,453 129,165 295,295

 

February 2019
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 11,883 2,564 2,817 10,111 8,329 35,704
Melbourne 12,007 2,553 3,667 11,948 8,601 38,776
Brisbane 8,144 3,414 3,802 8,591 8,221 32,172
Perth 6,498 2,498 2,899 6,614 8,522 27,031
Adelaide 4,697 1,764 1,805 3,862 4,694 16,822
Canberra 1,642 333 485 1,259 918 4,637
Darwin 211 99 101 298 1,289 1,998
Hobart 648 214 321 528 682 2,393
National 68,540 24,687 32,297 78,894 138,772 343,190

Asking Prices

Capital City asking prices decreased by 0.7% for units and increased 0.7% for houses, over the month to 3rd March 2020. Aerials Of Neighborhood

Unit asking prices are now at $573,700 and houses $983,900.

Compared to a year ago, the capital city asking prices posted increases of 8.3% for houses and 0.4% increase for units.

It has been apparent to SQM research for sometime that unit prices in Sydney and Melbourne in particular, have lagged behind the price gains recorded for houses.

This maybe a result of ongoing caution surrounding the structural quality of new apartment buildings.

Over the month, Brisbane and Hobart both recorded increases in both house and unit prices.

Hobart showing a significant 6.4% increase in unit prices over the month.

Sydney saw an increase of 1.3% for houses and decrease of 1.6% for unit prices over the month, whereas Melbourne, Adelaide, Canberra and Darwin experienced decreases in house prices and increases in unit prices. Sydney+suburbs

Melbourne decreased 0.4% in house prices and increased 0.8% in unit prices; Adelaide, 0.2% decrease in house prices and 0.6% increase in unit prices.

Darwin’s unit market has turned around from a 20.5% decrease 12 months ago to a 3.5% increase over the month.

Perth was the only city to post declines in both, house and unit prices, 0.2% for houses and 0.7% for unit prices.

A year ago, Perth’s asking prices for houses and units also experienced a decline of 2.2% for houses and 3.8% for units.

Year on year, Sydney’s asking price for houses showed an increase of 10.3% and 0.2% increase for units.

Melbourne’s house price experienced an increase of 8.0% a year ago but now has falls of 0.4%.

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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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