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Total Property Listings continue to rise in March

National residential property listings (properties available for sale) rose in March 2022 by 1.8% to 218,398 from 214,495 in February.

Compared to 12 months ago, listings dropped 9%.

Nationally, new listings (less than 30 days) jumped 5.7% over March, with 84,237 new properties added to the new listings are up 0.2% over the year.  Property Listing

Old listings fell 2% in March and were down by 45.9% over the year.

National asking house prices rose 0.8% over March, while unit prices fell 7%.

Figures released today by SQM Research reveal national residential property listings rose in March 2022 by 1.8% to reach 218,398 properties, up from 214,498 in February.

The largest monthly rises in property listing were in Hobart, Melbourne, and Sydney at 4.9%, 3.5% and 3% over the month of March.

However, listings are still lower when compared to 12 months ago, listings are down by 14.9% compared to March 2021, with large declines recorded in Brisbane and Adelaide of 30.2% and 24.2%

Total Property Listings

Nationally, new listings (Less than 30 days) jumped 5.7% over March 2022 to 84,237 properties on the market, to be up 0.2% over the year.

Melbourne, Sydney, and Brisbane recorded increases in new listings for the month, up by 9.3%, 4.1% and 1.9%.

The listings for these capital cities are now running above long-term averages but are yet to reflect this build-up in old listings.

Over the year, new listings rose the most in Canberra and Hobart, up by 16.4% and 14.7%.

Property listings over 180 days dropped by 2% in March 2022 and they are down 45.9% over the year.

Darwin has recorded a build-up in old listings of 9.6%, this potentially indicates a market slowdown for the city.

New Listings Less Than 30 Days

Old Listings Greater Than 180 Days

The rise in listings over March will be welcome to home buyers who largely struggled for choice, last year.

However, we still have a shortage of stock in the market, particularly for Brisbane and Adelaide.

Those two cities continue to record massive housing price rises as a result.

Going forward I expect we will shortly enter into a lacklustre period of activity in the lead up to the Federal Election.

After that point, there will be a looming interest rate rise for the market to consider.

Asking Prices

Over the month to 5 April 2022, national asking prices rose by 0.6% for houses and jumped 0.3%% for units.

Over the year, strong growth in national asking house prices of 21.1% was posted while asking unit prices rose 14% over the year.

In Sydney, over the last 30 days, asking prices for houses and units have fallen by 0.4% and 1.1%.

Capital city asking house prices rose 0.8% over the month to 5 April 2022, while unit prices fell 0.7%.

Over the year, house asking prices in capital cities rose 21.2% and unit prices rose 5.8% over the year.

Weekly Asking Prices Index

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.
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