Total property listings continue to rise in April

Key takeaways

There are more properties for sale now with national residential property listings rising by 4.8% in April.

However, compared to 12 months ago, listings dropped 12.8%.

Nationally, new listings (Less than 30 days) fell 5.5% over April, with 79,616 new properties added to the market. New listings are down 2.5% over the year. Old listings rose 4.6% in April and were down by 42.7% over the year.

National asking prices rose 19.2% over the year to 3 May 2022, while unit prices rose 14.6%.

National residential property listings rose in April 2022 by 4.8% to reach 228,901 properties, up from 218,398 in March. 

This is based on the figures released by the latest SQM Research.

The largest monthly rises in property listing were in Hobart, Brisbane, and Sydney at 17.7%, 7.8% and 5.8% over the month of April.

However, listings are still lower when compared to 12 months ago, listings are down by 12.8% compared to April 2021, with large declines recorded in Brisbane and Adelaide of 26.4% and 23.5%.

Total Listings

Nationally, new listings (less than 30 days) fell 5.5% over April 2022 to 79,616 properties on the market, to be down 2.5% over the year.

Canberra,Sydney and Melbourne recorded a fall in new listings for the month, down by 13%, 8.7% and 5.5%.

Over the year, new listings rose the most in Darwin and Hobart, up by 14.7% and 44.4%.

Property listings over 180 days rose by 4.6% in April 2022 and they are down by 42.7% over the year.

The month of April tends to be a slower month for new listings due to the multiple public holidays for the period, so it is no great surprise to see the Sydney and Melbourne new stock declines.

Source: SQM Research

There may also have been an element of caution by would-be new vendors given the slowdown in the market.

On that front, the data also reveals a broad-based rise in old listings.

This is a clear indication that absorption rates across the country are slowing and more and more existing vendors not achieving the price they seek.

Asking Prices

Over the month to 3 May 2022, national asking prices rose by 0.9% for houses and jumped 0.8%% for units.

Over the year, strong growth in national asking house prices of 19.2% was posted while asking unit prices rose 14.6% over the year.

Capital city asking house prices fell 0.1% over the month to 3 May 2022, while unit prices rose 0.2%.

Over the year, house asking prices in capital cities rose 16.7% and unit prices rose 6.4% over the year.

About Louis Christopher 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