Property Listings Declined

National residential property listings continued to decline in July by 2.8%, to 316,391 from 325,404 in June 2019.

Compared to 12 months ago, listings were up by 0.7%.  Downturn

All states experienced a decline in property sales listings over the month, with Sydney experiencing the highest decline at 7.6% followed by Perth with a 4.0% decline.

Brisbane recorded the lowest decline at 1.9%.

Year-on-year Sydney’s listings declined by 10.5%, Darwin declined by 4.8% and Perth by 2.6%.

All other states recorded increases in their year-on-year listings.

Canberra’s increase was 17.1%, the highest increase in the nation, followed by Hobart with an increase of 11.5%.

CityJuly 2018 TotalJune 2019 TotalJuly 2019 TotalMonthly change %Yearly change %
Sydney32,46431,43129,055-7.6%-10.5%
Melbourne32,38935,84334,646-3.3%7.0%
Brisbane30,04731,62831,038-1.9%3.3%
Perth25,44325,80724,770-4.0%-2.6%
Adelaide15,53716,50415,876-3.8%2.2%
Canberra3,6104,3174,226-2.1%17.1%
Darwin2,0632,0121,965-2.3%-4.8%
Hobart1,9592,2642,184-3.5%11.5%
National314,229 325,404 316,391 -2.8%0.7%

Key Points

  • National residential property listings declined by 8% in July 2019 to 316,391 from 325,404 in June 2019. However, year-on-year listings were up by 0.7% nationally.
  • All states experienced a decline in property sales listings over the month, with Sydney experiencing the highest decline at 6% followed by Perth with a 4.0% decline.
    Workshop 2019
  • Capital City asking prices increased marginally by 7% for houses and 0.6% for units, over the month to 6 August 2019. Unit asking prices are now $566,500 and houses $919,900.
  • Compared to a year ago, the capital city asking prices posted declines of 3% for houses and declines of 1.8% for units.
  • Brisbane, Perth and Adelaide all recorded minor decreases in house and units prices over the month.

July’s result was no doubt affected by seasonality with the winter months historically a low time for new listings.

However we note there was also a large decline in older stock, which may indicate that sales rates did rise in July or more vendors opted out of their sales campaigns.

The rise in asking prices in Sydney of 2.6% for houses (+1.2% for units) indicates increased confidence by vendors of a turnaround in the market.

Vendors in Sydney would be well advised though to not get ahead of themselves in what is still a cautious market.

Asking Prices

Capital City asking prices increased marginally by 1.7% for houses and 0.6% for units, over the month to 6 August 2019.

Unit asking prices are now $566,500 and houses $919,900.

Sydney Market DownCompared to a year ago, the capital city asking prices posted declines of 4.3% for houses and declines of 1.8% for units.

Sydney and Canberra’s property prices continue to post increases and were the only capital cities to record increases over the month for both houses and units.

Sydney increased by 2.6% for houses and 1.2% for units, whilst Canberra increased 1.6% for houses and 0.5% for units.

Melbourne managed minor increase in house prices of 0.1% but recorded a 0.1% decrease for units over the month.

Darwin also recorded increases of 1.5% for houses and decrease of 0.3% for units.

Hobart prices decreased 0.8% for houses and remained steady in the unit market.

Brisbane, Perth and Adelaide all recorded decreases in house and units prices over the month.

Perth recording a decrease of 1.3% for houses and 1.1% for units; Brisbane recorded a decrease of 0.1% for both houses and units and Adelaide’s decrease was 0.3% for both houses and units.

SQM Research Weekly Asking Prices Index

 

Week ending: 6 August 2019Asking PriceChange on
prev week
Rolling month
% change
12 month
% change
SydneyAll Houses1,258.48.82.6%-6.8%
All Units701.41.61.2%-2.5%
MelbourneAll Houses938.83.00.1%-4.6%
All Units538.4-0.5-0.1%-1.7%
BrisbaneAll Houses616.4-0.1-0.1%-0.1%
All Units371.7-0.1-0.1%-2.3%
PerthAll Houses649.1-1.7-1.3%-2.2%
All Units382.1-1.0-1.1%-2.8%
AdelaideAll Houses513.4-1.1-0.3%2.3%
All Units299.7-0.1-0.3%-0.8%
CanberraAll Houses806.92.81.6%-0.8%
All Units432.7-1.20.5%5.3%
DarwinAll Houses592.72.51.5%0.3%
All Units354.6-0.4-0.3%-4.0%
HobartAll Houses514.5-0.4-0.8%5.4%
All Units306.00.50.0%0.8%
NationalAll Houses565.91.40.0%-9.0%
All Units377.2-1.00.6%-4.8%
Cap City AverageAll Houses919.91.41.7%-4.3%
All Units566.50.70.6%-1.8%

Source: www.sqmresearch.com.au

Workshop 2019 small
icon-podcast-large

Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.

icon-email-large

Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


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


'Property Listings Declined' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*


facebook
twitter
email