Property Listings Increased in November

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Figures released reveal national residential property listings increased in November by 6.3%, from 318,874 in October 2019 to 338,971.

Compared to 12 months ago, listings were down by 6.3%.

All capital cities experienced an increase in property sales listings over the month with the exception of Darwin which continues to experience decreases in listings, with November’s decrease at 1.9%. Darwin’s yearly decrease was 12.3%. Buy Home In Australia

Hobart recorded the highest monthly increase in property listings of 11.7%, followed by Adelaide with a 10.8% increase, Melbourne 10.7% and Canberra a 10.4% increase.

Sydney recorded a 7.1% increase over the month and is a large improvement year-on-year where the city’s listings declined by a significant 19.3%.

New listings drove the monthly rise with stock under 30 days old increasing by 5.4% for the month.

While stock for over 180 days declined by 3.6%.

Year-on-year listings show declines for all cities except Canberra which recorded a 0.4% increase.

Perth decreased by 8.8% and Melbourne by 8.5%.

Hobart and Adelaide declined by smaller margins over the year, 1.6% and 0.8% respectively.

Stock on Market Table:

CityNovember 2018

Total

October 2019

Total

November 2019

Total

Monthly change %Yearly change %
Sydney39,77229,97732,1017.1%-19.3%
Melbourne43,72736,12240,00310.7%-8.5%
Brisbane34,68331,10133,2056.8%-4.3%
Perth28,27324,36825,7815.8%-8.8%
Adelaide18,28116,36918,13910.8%-0.8%
Canberra4,9794,5294,99810.4%0.4%
Darwin2,1481,9211,884-1.9%-12.3%
Hobart2,4272,1382,38811.7%-1.6%
National361,619 318,874 338,971 6.3%-6.3%

 

Days on Market Tables:

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

 

October 2019
City< 30 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney13,5673,8392,0473,0587,46629,977
Melbourne15,6894,5742,4984,3658,99636,122
Brisbane7,9685,5853,6415,4798,42831,101
Perth5,9003,1912,2294,3698,67924,368
Adelaide5,4982,4121,3252,5114,62316,369
Canberra1,8145693186451,1834,529
Darwin1521061013291,2331,921
Hobart6352812003266962,138
National78,06134,99823,43744,739137,639318,874

 

November 2018
City< 30 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney13,0117,5085,2896,6707,29439,772
Melbourne15,8239,1325,0306,8506,89243,727
Brisbane9,0246,6354,8116,2527,96134,683
Perth7,1214,4443,1694,7148,82528,273
Adelaide5,9603,0241,8232,9804,49418,281
Canberra1,9611,0774756228444,979
Darwin2551521302841,3272,148
Hobart8753342242697252,427
National83,06648,99636,12354,986138,448361,619

 

November’s increase in listings indicates the return to a normal spring selling season.

The rises were primarily driven by new listings.

While old stock kept falling.

This suggests to me that sales volumes are on the rise and that sellers are starting to respond to the rising market.

Asking Prices

Capital City asking prices increased marginally by 1.6% for houses and 0.6% for units over the month to 3 December 2019.

Unit asking prices are now $573,100 and houses $954,800.

Compared to a year ago, the capital city asking prices posted increases of 2.4% for houses and increases of 0.7% for units.

Over the month, Sydney, Melbourne, Adelaide and Canberra all recorded increases in both houses and units, with Melbourne showing the strongest growth of 2.2% in the housing market followed by Sydney with a 1.9% increase in house prices.

Brisbane and Hobart both posted increases in house prices – 0.4% for Brisbane and 0.7% for Hobart – however both cities had marginal declines in the unit market of 0.1% for Brisbane and 1.3% for Hobart.  Perth’s housing market remained steady but unit prices have increased 0.9%.

Darwin however, continues its decline in both houses (1.0%) and units (1.3%).

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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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