Property Listings record abnormal decrease

National residential property listings decreased in September by 4.0%, from 325,693 in August 2019 to 312,754.  

Compared to 12 months ago, listings were down by 6.9%.

All states experienced a decrease in property sales listings over the month, with Hobart experiencing the highest decrease at 6.4% followed by Melbourne and Perth both with a 5.8% decrease. Sydney was not far behind with a 5.7% decrease. Downturn

The lowest decrease was Canberra of 1.1% over the month.

Year-on-year Sydney’s listings declined by a significant 20.4%.

Perth and Darwin both recorded a 9.0% yearly decrease.

Melbourne, Brisbane and Adelaide declined by smaller margins.

Perth and Darwin’s year-on-year listings also saw declines of 4.6% and 3.6% respectively.

Canberra and Hobart’s year-on-year listing increased by 3.1% and 8.4%, respectively.

Key Points

  • National residential property listings decreased in September by 0%, from 325,693 in August 2019 to 312,754. Compared to 12 months ago, listings were down by 6.9%.
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  • All states experienced a decrease in property sales listings over the month, with Hobart experiencing the highest decrease at 4% followed by Melbourne and Perth both with a 5.8% decrease. Sydney was not far behind with a 5.7% decrease. The lowest decrease was Canberra of 1.1% over the month.
  • Capital City asking prices increased marginally by 5% for houses and 1.4% for units, over the month to 1 October 2019. Unit asking prices are now $568,300 and houses $942,400.
  • Compared to a year ago, the capital city asking prices posted declines of 1% for houses and declines of 0.7% for units.

Stock on Market Table:

CitySeptember 2018

Total

August 2019

Total

September 2019

Total

Monthly change %Yearly change %
Sydney36,12830,51228,773-5.7%-20.4%
Melbourne37,00036,96234,824-5.8%-5.9%
Brisbane31,99832,05930,518-4.8%-4.6%
Perth26,07125,18023,731-5.8%-9.0%
Adelaide16,89016,37215,825-3.3%-6.3%
Canberra4,0124,3994,350-1.1%8.4%
Darwin2,1632,0331,969-3.1%-9.0%
Hobart2,0582,2682,122-6.4%3.1%
National335,854325,693312,754-4.0%-6.9%

 

Days on Market Tables:

September 2019
City< 30 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney12,089 3,434 1,786 3,634 7,830 28,773
Melbourne13,718 4,216 2,350 4,874 9,666 34,824
Brisbane7,692 5,208 3,349 5,696 8,573 30,518
Perth5,209 2,874 2,091 4,632 8,925 23,731
Adelaide4,623 2,183 1,410 2,863 4,746 15,825
Canberra1,524 512 288 803 1,223 4,350
Darwin140 123 130 322 1,254 1,969
Hobart592 260 164 359 747 2,122
National70,129 32,639 21,842 49,175 138,969 312,754

 

August 2019
City< 30 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney11,6373,0802,4135,0058,37730,512
Melbourne13,4854,1702,9645,98410,35936,962
Brisbane7,7034,8703,8326,7378,91732,059
Perth5,1462,7492,4835,4919,31125,180
Adelaide3,9942,3851,6383,4244,93116,372
Canberra1,3135053579861,2384,399
Darwin1641441483101,2672,033
Hobart5482812233868302,268
National65,80331,68225,39857,530145,280325,693

 

September 2018
City< 30 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney13,609 6,455 3,529 6,227 6,308 36,128
Melbourne14,842 6,544 3,731 5,746 6,137 37,000
Brisbane8,923 5,616 3,897 6,077 7,485 31,998
Perth5,823 3,503 2,583 5,680 8,482 26,071
Adelaide5,087 2,372 1,668 3,291 4,472 16,890
Canberra1,643 577 403 535 854 4,012
Darwin242 168 132 364 1,257 2,163
Hobart697 260 143 254 704 2,058
National79,053 40,423 27,303 55,724 133,351 335,854

September’s decline in listings was an abnormal result.

Listings normally rise for the first month of the spring selling season.

New listings did rise. Sydney Market Down

It just that older listings recorded a large decline.

It suggests stock is being absorbed at a quicker rate.

Turning to Sydney, the evidence, by way of the fall in listings, the rise in auction clearance rates and the accelerated rise in asking prices, all suggest that the city has indeed entered into a new housing boom.

Melbourne is not that far behind the mark as well.

I think we can expect to record rapid rises in dwelling prices for our two largest cities at least in the December quarter and likely beyond.

Asking Prices

Capital City asking prices increased marginally by 1.5% for houses and 1.4% for units, over the month to 1 October 2019.

Unit asking prices are now $568,300 and houses $942,400.

Compared to a year ago, the capital city asking prices posted declines of 0.1% for houses and declines of 0.7% for units.

Over the month, Sydney, Melbourne, Brisbane and Hobart all recorded increases in both houses and units, with Melbourne showing the strongest growth of 2.1% in the housing market and Hobart recording a 3.8% growth in the unit market.Businessman With Coins And House Model Using Calculator

Perth’s house and unit market has declined marginally by 0.5% and 0.1% respectively.

As did Darwin’s asking prices, declining 0.9% for houses and 0.8% for units.

Sydney’s median house asking price has increased by 1.9% for houses and 0.8% for units.

Median price for houses is now $1.305m in Sydney, not far behind its peak in Jan 2018 of $1.39m.

Melbourne current median house price is $959.6k for houses, inching closer to its $1.008m high in April 2018.

Brisbane’s median house price has hit its peak of $627.1k since 2009.

SQM Research Weekly Asking Prices Index
Week ending: 01 October 2019Asking PriceChange on
previous week
Rolling month
% change
12 month
% change
SydneyAll Houses1,305.15.11.9%-0.6%
All Units698.12.40.8%-1.4%
MelbourneAll Houses959.64.32.1%-0.9%
All Units547.91.21.4%-0.2%
BrisbaneAll Houses627.11.21.2%2.2%
All Units371.20.40.3%-2.6%
PerthAll Houses649.80.0-0.5%-1.7%
All Units378.6-0.1-0.1%-2.5%
AdelaideAll Houses516.81.30.7%2.1%
All Units297.3-0.6-0.4%-1.4%
CanberraAll Houses809.7-4.2-1.2%-1.1%
All Units440.32.62.1%4.5%
DarwinAll Houses588.20.4-0.9%0.9%
All Units349.5-0.0-0.8%-5.7%
HobartAll Houses521.80.30.9%5.9%
All Units330.94.73.8%8.3%
NationalAll Houses578.25.70.2%0.9%
All Units381.81.7-1.6%3.0%
Cap City AverageAll Houses942.45.71.5%-0.1%
All Units568.31.41.4%-0.7%

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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