New Property Listings Increased

National residential property listings increased in March 2020 by 3.7% from 296,770 in February to 307,847.

Compared to 12 months ago, listings were down by 13.2%. Property 2

All capital cities experienced increases in property listings over the month with the largest increase in Darwin of 15.6%, followed closely by Canberra with a 11.0% increase and Sydney a 10.5% increase.

Hobart had the smallest increase of 2.4% increase in listings.

Listings that have been on the market for between 30 to 60 days surged by 74%, suggesting sales activity did slow during March.

Year-on-year listings show declines for all capital cities with Sydney recording a significant decline of 22.8% and Hobart an 18.5% decline this time last year.

Key Points

  • National residential property listings increased in March by 7% from 296,770 listings in February 2020 to 307,847. Compared to 12 months ago, listings were down by 13.8%.
  • All capital cities experienced increases in property listings over the month with the largest increase in Darwin of 6%, followed closely by Canberra with an 11.0% increase.
  • There was a surge in listings that have been on the market between 30 to 60 days, suggesting a drop in sales activity for the month.
  • Capital City asking prices increased by 7% for houses and increased 0.6% for houses, over the month to 31st March 2020. Unit asking prices are now at $577,000 and houses $990,500.
  • Compared to a year ago, the capital city asking prices posted increases of 8% for houses and 2.1% increase for units.

Stock on Market Table:

City March 2019 Total February 2020
Total
March 2020 Total Monthly change % Yearly change %
Sydney 37,813 26,435 29,209 10.5% -22.8%
Melbourne 42,001 34,163 36,125 5.7% -14.0%
Brisbane 33,815 28,867 29,992 3.9% -11.3%
Perth 28,114 21,737 23,591 8.5% -16.1%
Adelaide 17,370 15,441 16,042 3.9% -7.6%
Canberra 4,928 3,755 4,169 11.0% -15.4%
Darwin 2,047 1,485 1,717 15.6% -16.1%
Hobart 2,503 1,994 2,041 2.4% -18.5%
National 354,459 296,770 307,847 3.7% -13.2%

Residential property listings are starting to increase and accumulate.

I note the surge of stock that has been on the market between 30 and 60 days.

This may reflect the start of a capital city housing market downturn due to the health and economic impact of COVID-19.

I also note though the rise in asking prices for the month, so quite a number of vendors have not really adjusted their pricing expectations as yet.

Days on Market Tables:

March 2020
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 15,039 3,985 1,091 3,187 5,907 29,209
Melbourne 16,203 5,280 1,369 5,701 7,572 36,125
Brisbane 8,920 5,362 2,264 5,466 7,980 29,992
Perth 5,704 3,593 1,648 4,394 8,252 23,591
Adelaide 5,033 2,378 1,056 3,045 4,530 16,042
Canberra 1,612 567 153 619 1,218 4,169
Darwin 183 141 73 164 1,156 1,717
Hobart 650 305 116 347 623 2,041
National 75,900 35,583 15,224 51,792 129,348 307,847

 

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 5,504 2,219 2,076 4,572 7,366 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 72,151 20,411 22,261 55,716 126,231 296,770

 

March 2019
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 12,752 6,464 2,201 7,424 8,972 37,813
Melbourne 13,826 6,471 2,365 10,079 9,260 42,001
Brisbane 8,087 6,218 3,306 7,589 8,615 33,815
Perth 6,484 4,306 2,475 6,269 8,580 28,114
Adelaide 5,168 2,710 1,337 3,508 4,647 17,370
Canberra 1,607 841 352 1,113 1,015 4,928
Darwin 208 160 111 249 1,319 2,047
Hobart 659 336 233 571 704 2,503
National 73,470 42,711 22,722 73,812 141,744 354,459

Asking Prices

Capital City asking prices increased by 0.7% for houses and increased 0.6% for houses, over the month to 31st March 2020.

Unit asking prices are now at $577,000 and houses $990,500. Buy Home In Australia

Compared to a year ago, the capital city asking prices posted increases of 8.8% for houses and 2.1% increase for units.

Over the month, most capital cities recorded asking price increases, with Darwin and Hobart both recording the highest increases for houses of 3.1%.

Highest price increase in units was Sydney and Perth with 0.8% increase.

Brisbane was the only capital city to record decreases in both house and unit prices – 0.1% for houses and 0.5% for units.

Canberra and Hobart posted declines in house unit prices of 2.2% and 3.5% respectively but recorded increases in house prices of 0.4% and 3.1% respectively.

Adelaide posted declines in house prices of 0.9% but increased 0.3% for unit prices.

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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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