Property Listings Decreased in December 2019

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:

City December 2018 Total November 2019 Total December 2019 Total Monthly change % Yearly change %
Sydney 32,738 32,101 22,888 -28.7% -30.1%
Melbourne 36,221 40,003 30,247 -24.4% -16.5%
Brisbane 30,962 33,205 28,368 -14.6% -8.4%
Perth 25,975 25,781 21,721 -15.7% -16.4%
Adelaide 15,904 18,139 15,514 -14.5% -2.5%
Canberra 4,208 4,998 3,595 -28.1% -14.6%
Darwin 1,995 1,884 1,492 -20.8% -25.2%
Hobart 2,286 2,388 2,034 -14.8% -11.0%
National 328,203 338,971 288,966 -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 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 6,002 4,356 2,864 3,217 6,449 22,888
Melbourne 8,395 6,124 3,563 4,246 7,919 30,247
Brisbane 5,300 5,797 3,997 5,471 7,803 28,368
Perth 3,531 3,556 2,811 3,803 8,020 21,721
Adelaide 3,527 3,364 1,987 2,268 4,368 15,514
Canberra 807 671 412 549 1,156 3,595
Darwin 77 109 77 194 1,035 1,492
Hobart 552 310 186 345 641 2,034
National 49,796 40,835 28,528 44,565 125,242 288,966

 

November 2019
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 14,299 4,863 2,505 3,240 7,194 32,101
Melbourne 17,712 6,129 3,030 4,360 8,772 40,003
Brisbane 8,658 5,983 4,110 6,029 8,425 33,205
Perth 6,129 4,000 2,659 4,152 8,841 25,781
Adelaide 6,211 3,180 1,736 2,365 4,647 18,139
Canberra 1,948 703 451 546 1,350 4,998
Darwin 168 113 92 262 1,249 1,884
Hobart 801 291 192 332 772 2,388
National 82,529 42,837 27,948 45,195 140,462 338,971

 

December 2018
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 5,098 7,578 6,226 6,599 7,237 32,738
Melbourne 6,903 8,690 7,130 6,585 6,913 36,221
Brisbane 5,216 6,849 5,429 5,843 7,625 30,962
Perth 4,375 4,866 3,836 4,379 8,519 25,975
Adelaide 3,334 3,539 2,283 2,414 4,334 15,904
Canberra 919 1,070 772 620 827 4,208
Darwin 132 190 145 266 1,262 1,995
Hobart 646 433 267 284 656 2,286
National 42,201 39,074 43,914 69,011 133,889 328,089

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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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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