Total Property Listings Decreased in August

National residential property listings decreased in September by 6.3% from 312,680 listings in July 2020 to 293,053.

house-price-drop-property-market-crash-loss-low

Compared to 12 months ago listings were also down by 10.0%.

All capital cities recorded decreases in property listings over the month with Melbourne recording the highest decrease at 13.2%.

Hobart recorded the second largest decrease at 9.4% followed by Canberra with 6.3% decrease.

Sydney recorded a 4.0% monthly decrease and Brisbane recorded a 5.1% decrease.

Perth and Darwin experienced smaller decreases of 2.0% and 3.7% respectively.

National year-on-year listings reveal a decrease of 10.0% with significant decreases in Darwin (26.9%) and Hobart (21.4%), however Sydney recorded a minor 1.2% increase.

Melbourne’s decrease was smaller at 1.8%. All other capital cities recorded declines over the 12 months.

Stock on Market Table:

City

August 2019
Total

July 2020
Total

August 2020
Total

Monthly change %

Yearly change %

Sydney

30,512

32,165

30,888

-4.0%

1.2%

Melbourne

36,962

41,819

36,305

-13.2%

-1.8%

Brisbane

32,059

30,500

28,955

-5.1%

-9.7%

Perth

25,180

22,525

22,066

-2.0%

-12.4%

Adelaide

16,372

15,108

14,229

-5.8%

-13.1%

Canberra

4,399

4,166

3,902

-6.3%

-11.3%

Darwin

2,033

1,544

1,487

-3.7%

-26.9%

Hobart

2,268

1,966

1,782

-9.4%

-21.4%

National

325,693

312,680

293,053

-6.3%

-10.0%

Commentary

There was quite a large drop in new listings for the month, predominantly driven by the shortfall in Melbourne.
The Melbourne numbers are quite revealing actually. It is reflective of the near entire freeze-up of the Melbourne housing market.
As the Victorian State Government is heavily reliant on property stamp duty revenues, there must be a significant State revenue collapse occurring.
Elsewhere we continue to record falling supply in Australia’s regional areas. Our take on that phenomenon is that demand has boomed for regional real estate as more of our populations looks to remote living.

Days on Market Tables:

August 2020

City

< 30 days

30-60 days

60-90 days

90-180 days

> 180 days

Total Listings

Sydney

12,775

4,893

2,759

4,267

6,194

30,888

Melbourne

7,498

6,574

4,372

7,091

10,770

36,305

Brisbane

7,782

5,128

3,363

4,894

7,788

28,955

Perth

5,052

3,297

2,323

3,293

8,101

22,066

Adelaide

4,179

2,025

1,240

2,202

4,583

14,229

Canberra

1541

474

243

501

1,143

3,902

Darwin

163

114

72

146

992

1,487

Hobart

456

201

117

295

713

1,782

National

61,038

35,345

22,406

42,224

132,040

293,053

July 2020

City

< 30 days

30-60 days

60-90 days

90-180 days

> 180 days

Total Listings

Sydney

13,085

4,688

2,530

5,735

6,127

32,165

Melbourne

13,906

6,543

3,545

8,253

9,572

41,819

Brisbane

8,193

5,057

3,079

6,137

8,034

30,500

Perth

5,198

3,235

1,867

4,016

8,209

22,525

Adelaide

3,998

2,207

1,352

2,824

4,727

15,108

Canberra

1,628

448

318

675

1,097

4,166

Darwin

166

100

64

175

1,039

1,544

Hobart

517

193

155

384

717

1,966

National

67,867

33,217

21,307

53,075

137,214

312,680

August 2019

City

< 30 days

30-60 days

60-90 days

90-180 days

> 180 days

Total Listings

Sydney

11,637

3,080

2,413

5,005

8,377

30,512

Melbourne

13,485

4,170

2,964

5,984

10,359

36,962

Brisbane

7,703

4,870

3,832

6,737

8,917

32,059

Perth

5,146

2,749

2,483

5,491

9,311

25,180

Adelaide

3,994

2,385

1,638

3,424

4,931

16,372

Canberra

1,313

505

357

986

1,238

4,399

Darwin

164

144

148

310

1,267

2,033

Hobart

548

281

223

386

830

2,268

National

65,803

31,682

25,398

57,530

145,280

325,693

Asking Prices

Capital City average asking prices decreased by 0.3% for both houses and units over the month to 1st September.

Average unit asking prices are now at $564,300 and houses $980,500.

Compared to a year ago, the capital city asking prices posted an increase of 6.3% for houses and remained steady for units.

Over the month, Sydney and Brisbane recorded marginal asking price decreases in both houses and units, with Sydney recording the largest decline in house asking prices of 1.2% and Melbourne recording the largest decline in unit prices of 0.8%.

However, Melbourne’s house asking price increased by 0.4%.

Adelaide was the only capital city to record increases in both unit and house asking prices – 0.2% and 0.4% respectively.

Hobart’s unit asking prices increased by 5.3% over the month but its house asking prices declined by 0.5%.

Year on year, most capital cities recorded increases in house and unit asking prices with a significant increase of 24.3% in Hobart’s unit asking price and 11.5% in house asking prices.

Darwin however, experienced declines in house and unit prices of 2.9% and 2.2% respectively.

SQM Research Weekly Asking Prices Index

Week ending: 1 September 2020

Asking Price

Change on
previous week

Rolling month
% change

12 month
% change

Sydney All Houses

1,354.2

-0.4 

-1.2% 

6.3% 

All Units

678.8

0.7 

-0.7% 

-2.4% 

Melbourne All Houses

1,027.4

1.5 

0.4% 

9.5% 

All Units

562.3

0.4 

-0.8% 

4.1% 

Brisbane All Houses

641.8

0.1 

-0.7% 

3.7% 

All Units

376.3

0.2 

-0.1% 

1.4% 

Perth All Houses

666.7

-0.1 

-0.8% 

3.3% 

All Units

380.3

0.7 

0.0% 

-0.3% 

Adelaide All Houses

527.5

-0.2 

0.4% 

2.8% 

All Units

307.9

0.0 

0.2% 

3.2% 

Canberra All Houses

803.9

-3.9 

-1.0% 

-1.6% 

All Units

453.4

1.3 

1.9% 

4.3% 

Darwin All Houses

574.7

1.7 

0.1% 

-2.9% 

All Units

345.9

0.1 

-0.3% 

-2.2% 

Hobart All Houses

570.7

1.1 

-0.5% 

11.5% 

All Units

392.4

4.9 

5.3% 

24.3% 

National All Houses

597.4

-0.4 

-1.1% 

4.2% 

All Units

393.4

-1.8 

-0.2% 

3.3% 

Cap City Average All Houses

980.5

0.8 

-0.3% 

6.3% 

All Units

564.3

2.6 

-0.3% 

0.0% 

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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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