Property Listings Decreased

National residential listings decreased by 6.3% in April 2019 to 332,236 from 354,459 in March 2019.  Property Downturn2

All states experienced a decrease in property sales listings over the month, with Sydney experiencing the highest decrease at 11.1%, followed by Melbourne at 8.9% and Canberra 8.8%.

Darwin recorded the lowest decrease at 4.3% and also recorded a year-on-year decline of 6.2%.

Compared to a year ago, national listings rose 2.2% with Melbourne recording a huge increase of 18.2% year-on-year followed by Canberra at 15.3% increase.

Sydney recorded a 0.7% increase year-on-year.

City April 2018 Total March 2019 Total April 2019 Total Monthly change % Yearly change %
Sydney 33,364 37,813 33,610 -11.1% 0.7%
Melbourne 32,378 42,001 38,277 -8.9% 18.2%
Brisbane 30,419 33,815 31,476 -6.9% 3.5%
Perth 26,548 28,114 26,178 -6.9% -1.4%
Adelaide 16,235 17,370 16,355 -5.8% 0.7%
Canberra 3,895 4,928 4,492 -8.8% 15.3%
Darwin 2,089 2,047 1,960 -4.3% -6.2%
Hobart 2,270 2,503 2,335 -6.7% 2.9%
National 325,147 354,459 332,236 -6.3% 2.2%

Key Points

  • National residential listings decreased by 3% in April 2019 to 332,236 from 354,459 in March 2019.
  • All states experienced a decrease in property sales listings over the month, with Sydney experiencing the highest decrease of 1%.
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  • Capital City house asking prices increased marginally by 1% and units decreased by 0.6% for the month to 30 April 2019.
  • Darwin’s unit price had the highest decrease of all capital cities at 9% over the month.
  • Hobart’s house prices saw the highest increase of all capital cities at 4% over the month.

The decrease is mainly due to the Easter long weekend and ANZAC day public holidays in the month of April which had only 3 weekends of trade compared to March which had 5 weekends.

That said, I note Sydney listings are now only up by just 0.7% year on year. If Sydney listings are starting to peak that could be a sign we are getting closer to the bottom in this downturn.

However the election could also be having an impact here, with both buyers and sellers waiting until the election is over before making decisions on buying and selling. Property Downturn2

Capital City house asking prices increased marginally by 0.1% but units decreased by 0.6% for the month to 30 April 2019.

Unit asking prices are now $559,900 and houses $908,800.

Darwin’s unit price had the highest decrease at 9.9% over the month followed by Hobart with a 5.3% decrease in unit prices.

However, Hobart’s house prices saw the highest increase at 1.4% over the month.

Sydney’s house and unit prices both dropped marginally by 0.5% over the month.

A house in Sydney is now $1,229,100 and a unit is $686,500 – both at 2016 prices. Buy Home In Australia

Sydney’s 12 month decline is now 9.3% for houses and 5.8% for units. Melbourne’s house and unit prices also continue to decline over the 12 months to 30 April at 7.1% and 0.1% respectively.

Perth experienced a marginal growth in house prices of 0.3% but unit prices continue to decline at 0.1%.

Year-on-year capital city asking prices also posted declines of 6.5% for houses and 3.8% for units.

Hobart continues to show the strongest growth year-on-year for houses with a 7.9% increase but units declined 0.3% over the 12 months.

Canberra also experienced yearly growth of 3.1% in houses and 1.0% growth in units.

SQM Research Weekly Asking Prices Index

Week ending: 30 Apr 2019 Asking Price Change on
previous week
Rolling month
% change
12 month
% change
Sydney All Houses 1,229.2 -4.3 -0.5% -9.3%
All Units 686.5 -0.7 -0.5% -5.8%
Melbourne All Houses 937.2 2.3 0.7% -7.1%
All Units 543.8 -0.8 -1.3% -0.1%
Brisbane All Houses 616.7 0.1 0.2% 1.0%
All Units 372.1 -0.2 -0.9% -2.4%
Perth All Houses 667.9 -1.1 0.3% -2.9%
All Units 383.3 -0.2 -0.1% -4.0%
Adelaide All Houses 512.2 0.3 -0.3% 0.6%
All Units 300.3 -1.0 -0.3% -1.5%
Canberra All Houses 818.9 0.9 -0.0% 3.1%
All Units 421.3 0.6 0.2% 1.0%
Darwin All Houses 585.0 -0.2 0.2% -1.4%
All Units 362.5 -5.8 -9.9% -4.8%
Hobart All Houses 515.0 5.4 1.4% 7.9%
All Units 304.2 -2.2 -5.3% -0.3%
National All Houses 566.9 0.7 -0.3% -0.4%
All Units 377.0 -0.2 0.9% 0.1%
Cap City Average All Houses 908.8 -1.9 0.1% -6.5%
All Units 559.9 -0.6 -0.6% -3.8%

Source: www.sqmresearch.com.au

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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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