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. 12353887_l

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%.  
    investor-enquiry-form
  • 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.  Buy Home In Australia

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.

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.

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%
All Units 701.8 -2.1 -0.7% -4.6%
Melbourne All Houses 941.5 -1.0 -2.3% -4.6%
All Units 551.8 0.6 -0.1% 2.0%
Brisbane All Houses 616.8 -0.9 -0.5% 0.6%
All Units 375.9 0.4 0.3% -1.2%
Perth All Houses 663.0 -0.2 -0.4% -3.4%
All Units 386.7 -1.5 -0.8% -2.5%
Adelaide All Houses 516.8 0.4 0.3% 1.1%
All Units 301.7 -0.2 0.2% -1.7%
Canberra All Houses 816.4 0.3 -1.2% 1.9%
All Units 420.0 -1.0 -0.8% 1.8%
Darwin All Houses 583.3 -0.2 -0.3% -2.3%
All Units 400.6 -0.7 -0.7% 3.6%
Hobart All Houses 503.5 1.8 1.5% 6.0%
All Units 327.2 3.1 2.9% 11.5%
National All Houses 567.4 2.3 0.1% -1.6%
All Units 374.8 0.5 -0.4% -0.9%
Cap City Average All Houses 910.7 2.2 -0.6% -5.9%
All Units 570.1 -1.2 -0.5% -2.4%

Source: www.sqmresearch.com.au

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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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