New Property Listings Surged in January 2020

National residential property listings increased in January by 2.2% from 288,966 in December 2019 to 295,295 according to SQM Research.

However, compared to 12 months ago, listings were down by 10.0%.

The month of January traditionally records small falls in properties listed for sale as the market is still in a summer holiday mode however, the positive start in new listings shows vendors are now keen to sell and we could see further increases in the coming months.House Model Toy Miniature On Grass Blurred Background. Real Estate, Rent, Sale Or Buying Property Concept

All capital cities experienced increases in property listings over the month with the largest increase in Sydney of 5.1%, followed closely by Hobart with 4.9% increase.

Canberra had the smallest increase of 0.6% listings.

Year-on-year listings show declines for all capital cities with Sydney recording a significant decline of 24.8% and Darwin a 24.7% decline this time last year.

However new listings (listings less than 30 days old) recorded a surge for the month and are higher than same levels recorded in January 2019.

Key Points

  • National residential property listings increased in January by 2% from 288,966 in December 2019 to 295,295. Compared to 12 months ago, listings were down by 10.0%.
  • All capital cities experienced increases in property sales listings over the month with the largest increase in Sydney of 1%, followed closely by Hobart with 4.9% increase.
  • Capital City asking prices decreased by 4% for both houses and units, over the month to 28th January 2020. Unit asking prices are now $575,100 and houses $973,500.
  • Compared to a year ago, the capital city asking prices posted increases of 5% for houses but a 0.1% decrease for units.

 

Stock on Market Table:

City January 2019 Total December 2019 Total January 2020 Total Monthly change % Yearly change %
Sydney 31,993 22,888 24,062 5.1% -24.8%
Melbourne 35,395 30,247 31,058 2.7% -12.3%
Brisbane 31,086 28,368 29,231 3.0% -6.0%
Perth 26,136 21,721 22,425 3.2% -14.2%
Adelaide 15,946 15,514 15,916 2.6% -0.2%
Canberra 4,122 3,595 3,617 0.6% -12.3%
Darwin 2,015 1,492 1,518 1.7% -24.7%
Hobart 2,318 2,034 2,134 4.9% -7.9%
National 328,089 288,966 295,295 2.2% -10.0%

 

Days on Market Tables:

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

 

Asking Prices

Capital City property asking prices decreased by 0.4% for both houses and units over the month to 28th January 2020.

The year commenced with unit asking prices at $575,100 and houses $973,500.

Compared to a year ago, the capital city asking prices posted increases of 5.5% for houses but a 0.1% decline for units.

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

Sydney was the only city to post declines in both, houses and units, 0.6% for houses and 0.7% for unit prices.  Perth and Canberra recorded minor decreases in house prices of 1.1% for Perth and 0.4% for Canberra houses.

Darwin house market has made a turnaround with increase of 0.6% in house prices however unit prices declined 0.4%.

Canberra had the strongest growth of 1.4% in the unit market whilst Hobart’s house prices had the strongest growth of 1.3%.  

SQM Research Weekly Asking Prices Index
Week ending: 28 January 2020 Asking Price Change on
previous week
Rolling month
% change
12 month
% change
Sydney All Houses 1,333.3 11.6 -0.6%  6.9%
All Units 716.1 -2.4 -0.7%  1.1%
Melbourne All Houses 1,030.2 -5.2 0.2%  5.8%
All Units 550.3 1.1 0.1%  -0.6%
Brisbane All Houses 640.7 -0.9 0.5%  3.3%
All Units 372.6 0.8 0.6%  -0.7%
Perth All Houses 649.5 -2.0 -1.1%  -2.5%
All Units 376.1 1.1 0.4%  -3.7%
Adelaide All Houses 525.1 1.0 0.7%  2.1%
All Units 302.2 0.6 0.2%  0.4%
Canberra All Houses 819.2 -2.6 -0.4%  -0.8%
All Units 438.1 3.7 1.4%  2.9%
Darwin All Houses 569.6 3.2 0.6%  -2.8%
All Units 307.8 0.4 -0.4%  -23.3%
Hobart All Houses 551.5 -3.4 1.3%  12.1%
All Units 343.5 3.4 0.5%  8.0%
National All Houses 586.8 1.7 -0.1%  3.5%
All Units 385.8 1.9 0.7%  1.8%
Cap City Average All Houses 973.5 2.5 -0.4%  5.5%
All Units 575.1 0.3 -0.4%  -0.1%

Source: www.sqmresearch.com.au

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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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