Property Listings Rise for Mid Spring

Figures released by SQM Research reveal national residential property listings increased in October by 2.0%, up from 312,754 in September 2019 to 318,874.

Compared to 12 months ago, listings were down by 4.8%. House Model Toy Miniature On Grass Blurred Background. Real Estate, Rent, Sale Or Buying Property Concept

All states experienced an increase in property sales listings over the month except for Darwin which experienced a decrease of 2.4%.

Sydney experienced the highest increase of 4.2%. Overall, listings are down in Sydney by 19% when compared to October 2018.

Canberra’s October sales listings was not far behind with a 4.1% increase.

Melbourne, Brisbane and Perth’s October increases of 3.7%, 1.9% and 2.7% respectively, also showed a good year-on-year turnaround for sales listings.

Hobart had a marginal increase of 0.8% over the month.

Stock on Market Table:

City October 2018

Total

September 2019

Total

October 2019

Total

Monthly change % Yearly change %
Sydney           37,001                28,773            29,977 4.2% -19.0%
Melbourne           39,187                34,824            36,122 3.7% -7.8%
Brisbane           31,992                30,518            31,101 1.9% -2.8%
Perth           25,783                23,731            24,368 2.7% -5.5%
Adelaide           16,345                15,825            16,369 3.4% 0.1%
Canberra             4,425                  4,350              4,529 4.1% 2.4%
Darwin             2,057                  1,969              1,921 -2.4% -6.6%
Hobart             2,071                  2,122              2,138 0.8% 3.2%
National          335,014              312,754           318,874 2.0% -4.8%

Key Points

  • National residential property listings increased in October by 0%, up from 312,754 in September 2019 to 318,874. Compared to 12 months ago, listings were down by 4.8%.
  • All states experienced an increase in property sales listings over the month except for Darwin which experienced a decrease of 4%.
  • Capital City average asking prices decreased marginally by 7% for houses but increased 0.3% for units, over the month to 29 October 2019. House asking prices are now $935,400 and units $570,100.
  • Compared to a year ago, the capital city asking prices posted declines of 8% for both houses and units.

Days on Market Tables:

October 2019
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 13,567 3,839 2,047 3,058 7,466 29,977
Melbourne 15,689 4,574 2,498 4,365 8,996 36,122
Brisbane 7,968 5,585 3,641 5,479 8,428 31,101
Perth 5,900 3,191 2,229 4,369 8,679 24,368
Adelaide 5,498 2,412 1,325 2,511 4,623 16,369
Canberra 1,814 569 318 645 1,183 4,529
Darwin 152 106 101 329 1,233 1,921
Hobart 635 281 200 326 696 2,138
National 78,061 34,998 23,437 44,739 137,639 318,874

 

September 2019
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 12,089 3,434 1,786 3,634 7,830 28,773
Melbourne 13,718 4,216 2,350 4,874 9,666 34,824
Brisbane 7,692 5,208 3,349 5,696 8,573 30,518
Perth 5,209 2,874 2,091 4,632 8,925 23,731
Adelaide 4,623 2,183 1,410 2,863 4,746 15,825
Canberra 1,524 512 288 803 1,223 4,350
Darwin 140 123 130 322 1,254 1,969
Hobart 592 260 164 359 747 2,122
National 70,129 32,639 21,842 49,175 138,969 312,754

 

October 2018
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney  13,214  7,071  4,275  5,966  6,475  37,001
Melbourne  16,351  6,746  4,170  5,823  6,097  39,187
Brisbane  8,573  6,213  3,730  6,016  7,460  31,992
Perth  6,054  3,988  2,579  4,984  8,178  25,783
Adelaide  5,111  2,652  1,592  2,812  4,178  16,345
Canberra  1,887  680  369  599  890  4,425
Darwin  237  168  115  317  1,220  2,057
Hobart  675  280  181  239  696  2,071
National  78,667  44,480  28,576  52,451  130,840  335,014

Capital city listings overall rose for October, which is a fairly normal phenomena during the spring selling season.

Sydney and Melbourne have larger counts of new listings compared to this time last year, which should please real estate agents.

Old stock still appears to be declining but remains at somewhat elevated levels.

This may have made some vendors adjust their expectations over the month as asking prices in four of the eight capital cities actually fell.

Asking Prices

Capital City average asking prices decreased marginally by 0.7% for houses but increased 0.3% for units, over the month to 29 October 2019.  

House asking prices are now $935,400 and units $570,100. 

Want to take advantage

Compared to a year ago, the capital city asking prices posted declines of 0.8% for both houses and units.

Over the month, Melbourne, Canberra and Darwin recorded decreases in both houses and units, with Darwin showing a large decrease of 8.6% in unit asking prices.

Year-on-year Darwin’s unit prices also decreased 13.5%.

Brisbane, Adelaide and Hobart recorded increases in both houses and units with strongest growth occurring in Hobart’s unit market with a 4.8% increase.

Sydney’s median asking price for houses had decreased by 1.6% but there was a 0.7% increase for units.

Median price for houses is now $1,283.9m in Sydney.

Melbourne’s current median house price of $955.6k for houses, stills sits below its $1.008m high in April 2018.

Brisbane’s median house price increased by 0.8% over the month and continues to peak from 2009, now sitting at $631.8k.

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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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