New Property Listings Increased in February

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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:

CityFebruary 2019 TotalJanuary 2020 TotalFebruary 2020 TotalMonthly change %Yearly change %
Sydney35,70424,06226,4359.9%-26.0%
Melbourne38,77631,05834,16310.0%-11.9%
Brisbane32,17229,23128,867-1.2%-10.3%
Perth27,03122,42521,737-3.1%-19.6%
Adelaide16,82215,91615,441-3.0%-8.2%
Canberra4,6373,6173,7553.8%-19.0%
Darwin1,9981,5181,485-2.2%-25.7%
Hobart2,3932,1341,994-6.6%-16.7%
National343,190 295,295 295,969 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 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney13,4501,7921,2014,2415,75126,435
Melbourne15,8022,1112,1096,5617,58034,163
Brisbane8,1403,3522,6156,7987,96228,867
Perth5,3062,1392,0024,4077,88321,737
Adelaide4,5111,6821,5953,2114,44215,441
Canberra1,3392441848091,1793,755
Darwin17375471751,0151,485
Hobart6051732683066421,994
National71,95520,35622,20155,565125,892295,969

January 2020

City< 30 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney8,2352,0752,9734,4636,31624,062
Melbourne8,4353,5434,6306,3358,11531,058
Brisbane5,6883,5424,7587,0388,20529,231
Perth4,0112,1423,0784,9348,26022,425
Adelaide3,4442,2412,3753,3094,54715,916
Canberra8263305267351,2003,617
Darwin12268882011,0391,518
Hobart4612882994066802,134
National47,92728,07533,67556,453129,165295,295

 

February 2019
City< 30 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney11,8832,5642,81710,1118,32935,704
Melbourne12,0072,5533,66711,9488,60138,776
Brisbane8,1443,4143,8028,5918,22132,172
Perth6,4982,4982,8996,6148,52227,031
Adelaide4,6971,7641,8053,8624,69416,822
Canberra1,6423334851,2599184,637
Darwin211991012981,2891,998
Hobart6482143215286822,393
National68,54024,68732,29778,894138,772343,190

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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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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