Property listings fall over December

By:

National residential property listings fell in December 2021 by 6.5% to 218,415 from 233,716 in November.

Fall PriceCompared to 12 months ago, listings dropped 20%.

Nationally, new listings (Less than 30 days) fell 29.5% over December, with 67,972 new properties added onto the market.

  • New listings are up 2.4% over the year.
  • Old listings fell 6.8% in December and were down by 49.5% over the year.

3d Image Of House With Graph FallingSydney, Melbourne, and Canberra have recorded the greatest falls in listings of 15.8%, 12.9%, and 15.9% over the month of December.

Over the year, property listings are trending downwards nationwide.

Compared to 12 months ago, national listings fell 20%, with the biggest falls in Brisbane, Adelaide, Canberra, and Hobart.

Capital city asking house prices rose 1.9% and units fell 0.2% over the four weeks to 4 January 2022.

Total listings

01

Nationally, new listings (Less than 30 days) fell 29.5% over December 2021 to 67,972 properties on the market, though they rose 2.4% over the year.

New listings fell the most in Sydney by 47.4%.

Over the year, new listings rose the most in Darwin by 26.2%, followed by Sydney and Perth and by 17.6% and 15.5%.

In a sign that older stock is clearing, property listings over 180 days dropped by 6.8% in December 2021 and they are down 49.5% over the year.

02

Asking Prices

  • Over the past 30 days to 4 January 2022, Sydney asking prices rose by 1.1% for houses and 0.4% for units.
  • Melbourne asking prices rose by 3% for houses and fell by 1% for units.
  • Brisbane asking prices rose by 4.2%  for houses and 2.6% for units.
  • Perth asking prices rose by 0.1% for houses and 1.2% for units.
  • Adelaide asking prices for houses rose by 4.3% fell by 0.5% for units.
  • Canberra asking prices for houses rose by 8.4% and 5% for units.
  • Darwin asking prices for houses rose by 1.7% and units fell by 1.1%.
  • Hobart asking prices for units fell by 0.4%.

03

Commentary

louis-ChristopherWhile there was a significant surge in auction activity over December, total listings were down on a month by month and a year-by-year comparison.

Sydney did record a surge in new listings when we take out the seasonality and compare against December 2020.

Overall, there remains a shortage of listings at the national level.

As a result, vendors are in no panic at this point.

Indeed, they lifted their asking prices for the month.

Unless we have a surge in listings for the start of the property season in February it is looking like a very soft landing for the housing market in 2022.

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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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