Property Listings Decreased in December 2019

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Figures released by SQM Research reveal national residential property listings decreased in December by 14.8%, falling from 338,971 in November 2019 to 288,966. Sydney+suburbs

Compared to 12 months ago, listings were down by 12.0%.

All capital cities experienced decreases in property listings over the month with the largest decrease in Sydney of 28.7%, followed closely by Canberra of 28.1%.

Year-on-year listings also show similar declines for all capital cities with Sydney recording a significant decline of 30.1%. 

Stock on Market Table:

CityDecember 2018 TotalNovember 2019 TotalDecember 2019 TotalMonthly change %Yearly change %
Sydney32,73832,10122,888-28.7%-30.1%
Melbourne36,22140,00330,247-24.4%-16.5%
Brisbane30,96233,20528,368-14.6%-8.4%
Perth25,97525,78121,721-15.7%-16.4%
Adelaide15,90418,13915,514-14.5%-2.5%
Canberra4,2084,9983,595-28.1%-14.6%
Darwin1,9951,8841,492-20.8%-25.2%
Hobart2,2862,3882,034-14.8%-11.0%
National328,203338,971288,966-14.8%-12.0%

Key Points

  • National residential property listings decreased in December by 8%, from 338,971 in November 2019 to 288,966. Compared to 12 months ago, listings were down by 12.0%.
  • All capital cities experienced decreases in property sales listings over the month with the largest decrease in Sydney of 7%, followed closely by Canberra of 28.1%.
  • Capital City asking prices increased by 4% for houses and 0.8% for units over the month to 31st December 2019. Unit asking prices are now $577,600 and houses $977,900.
  • Compared to a year ago, the capital city asking prices posted increases of 8% for houses and 1.0% for units.

The month of December traditionally records falls in properties listed for sale as it is the start of the festive and summer holiday period, whilst November shows a surge in listings as vendors are keen to sell before the holiday season approaches.

The recent devastating bushfires in NSW, Canberra and Victoria could also result in declines in property listings and impact property values in these regions in the coming months.

Days on Market Tables:

December 2019
City< 30 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney6,0024,3562,8643,2176,44922,888
Melbourne8,3956,1243,5634,2467,91930,247
Brisbane5,3005,7973,9975,4717,80328,368
Perth3,5313,5562,8113,8038,02021,721
Adelaide3,5273,3641,9872,2684,36815,514
Canberra8076714125491,1563,595
Darwin77109771941,0351,492
Hobart5523101863456412,034
National49,79640,83528,52844,565125,242288,966

 

November 2019
City< 30 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney14,2994,8632,5053,2407,19432,101
Melbourne17,7126,1293,0304,3608,77240,003
Brisbane8,6585,9834,1106,0298,42533,205
Perth6,1294,0002,6594,1528,84125,781
Adelaide6,2113,1801,7362,3654,64718,139
Canberra1,9487034515461,3504,998
Darwin168113922621,2491,884
Hobart8012911923327722,388
National82,52942,83727,94845,195140,462338,971

 

December 2018
City< 30 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney5,0987,5786,2266,5997,23732,738
Melbourne6,9038,6907,1306,5856,91336,221
Brisbane5,2166,8495,4295,8437,62530,962
Perth4,3754,8663,8364,3798,51925,975
Adelaide3,3343,5392,2832,4144,33415,904
Canberra9191,0707726208274,208
Darwin1321901452661,2621,995
Hobart6464332672846562,286
National42,20139,07443,91469,011133,889328,089

Asking Prices

Capital City asking prices increased by 2.4% for houses and 0.8% for units, over the month to 31st December 2019. The year ended with unit asking prices at $577,600 and houses $977,900. Sydney suburbs

Compared to a year ago, the capital city asking prices posted increases of 5.8% for houses and 1.0% for units.

Over the month, Sydney and Hobart were the only capital cities to record increases in both house and unit prices.  Darwin continues to record declines in both house and unit prices of 2.0% and 1.2% respectively.

All other capital cities recorded increases in house prices, but experienced marginal declines in unit prices over the month.

The largest fall in the unit market was Perth with a 1.6% decline but the city’s house price increased by 0.3%.

Hobart’s unit prices had the strongest growth of 2.0%. property purchase money

Overall, Melbourne recorded the strongest price growth of 4.2% for houses but had declines in the unit market of 0.6%.  Melbourne’s median house asking price has now reached back to over one million dollars.

The last time this occurred was in the period between April to June 2018.

The median asking price of a Melbourne house now sits at $1,027,600.

Recording a 2.4% increase in asking house prices over the month, the Sydney house market has also climbed back to its 2017/2018 highs of over $1.3 million.

The median asking house price in Sydney is now $1,341,400.

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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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