Property listings are on the rise

National residential listings increased by 4.6% in February 2019 to 343,190 from 328,089 in January 2019 as homeowners re-emerged from the summer break to list their properties for sale.

All states experienced an increase in listings except for Darwin which was down 0.8% in February and down 1.6% year-on-year.

Canberra recorded the highest increase in listings at 12.5%, followed by Sydney at 11.6% and Melbourne 9.6%.

Hobart recorded the lowest increase at 3.2%.

Compared to a year ago, national listings rose 7.9%.

Melbourne’s year-on-year listings was the highest at 30.8%, followed by Canberra at 21.4%.

City	February 2018 Total	January 2019 Total	February 2019 Total	Monthly change %	Yearly change %
Sydney	31,204	31,993	35,704	11.6%	14.4%
Melbourne	29,636	35,395	38,776	9.6%	30.8%
Brisbane	29,565	31,086	32,172	3.5%	8.8%
Perth	25,443	26,136	27,031	3.4%	6.2%
Adelaide	15,714	15,946	16,822	5.5%	7.1%
Canberra	3,819	4,122	4,637	12.5%	21.4%
Darwin	2,031	2,015	1,998	-0.8%	-1.6%
Hobart	2,299	2,318	2,393	3.2%	4.1%
National	317,984	328,089	343,190	4.6%	7.9%

Key Points

National residential listings increased by 6% in February 2019 to 343,190 from 328,089 in January 2019.
All states experienced an increase in listings except for Darwin which was down 8%
Canberra recorded the highest increase in listings at 5%.
Hobart recorded the lowest increase at 2%.
Capital City asking prices for units and houses declined by 5% and 0.6% respectively, for the month to 5 March 2019. Unit asking prices are now $570,100 and houses $910,700.
Hobart is still outperforming all states, posting increases in both unit and house asking prices over the month of 9% and 1.5% respectively.
Adelaide is also slowly bouncing back with increases in unit prices of 2% and house prices of 0.3% over the month.

The rise in February listings was expected as homeowners listed their properties with the new year well underway.

The year-on-year listings, together with ongoing falls in asking prices still provide evidence of a weak national housing market.

Darwin was the only city to record a drop in listings, falling by 0.8% for the month.

Asking Prices

Capital City asking prices for units and houses declined by 0.5% and 0.6% respectively, for the month to 5 March 2019.

Unit asking prices are now $570,100 and houses $910,700.

Melbourne’s house asking prices saw the largest monthly decline of 2.3%.

The city’s unit prices declined by a modest 0.1%.

Hobart is still outperforming all states, posting increases in both unit and house asking prices over the month of 2.9% and 1.5% respectively.

Adelaide is also slowly bouncing back with increases in unit prices of 0.2% and house prices of 0.3% over the month.

Whilst Brisbane managed a 0.3% increase in units but a 0.5% decline in house prices.

Year-on-year capital city asking prices also experienced declines of 2.4% for units and 5.9% for houses, with Hobart continuing to show the strongest growth for both houses and units with a 6.0% increase in houses and 11.5% for units.

Canberra also experienced yearly growth with 1.9% increase in houses and 1.8% increase in units.

Sydney’s 12 month decline is now 9.8% for houses and 4.6% for units.

Canberra also experienced yearly growth with 1.9% increase in houses and 1.8% increase in units.

Sydney’s 12 month decline is now 9.8% for houses and 4.6% for units.

SQM Research Weekly Asking Prices Index
Week ending: 5 Mar 2019		Asking Price	Change on prev week	Rolling mth % change	12 mth % change
Sydney	All Houses	1,235.0	-3.1	-0.4%	-9.8%
Sydney	All Units	701.8	-2.1	-0.7%	-4.6%
Melbourne	All Houses	941.5	-1.0	-2.3%	-4.6%
Melbourne	All Units	551.8	0.6	-0.1%	2.0%
Brisbane	All Houses	616.8	-0.9	-0.5%	0.6%
Brisbane	All Units	375.9	0.4	0.3%	-1.2%
Perth	All Houses	663.0	-0.2	-0.4%	-3.4%
Perth	All Units	386.7	-1.5	-0.8%	-2.5%
Adelaide	All Houses	516.8	0.4	0.3%	1.1%
Adelaide	All Units	301.7	-0.2	0.2%	-1.7%
Canberra	All Houses	816.4	0.3	-1.2%	1.9%
Canberra	All Units	420.0	-1.0	-0.8%	1.8%
Darwin	All Houses	583.3	-0.2	-0.3%	-2.3%
Darwin	All Units	400.6	-0.7	-0.7%	3.6%
Hobart	All Houses	503.5	1.8	1.5%	6.0%
Hobart	All Units	327.2	3.1	2.9%	11.5%
National	All Houses	567.4	2.3	0.1%	-1.6%
National	All Units	374.8	0.5	-0.4%	-0.9%
Cap City Average	All Houses	910.7	2.2	-0.6%	-5.9%
Cap City Average	All Units	570.1	-1.2	-0.5%	-2.4%

Source: www.sqmresearch.com.au

About Louis Christopher

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.
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