Total Property Listings Decreased in November

National residential property listings decreased in November by 4.0% from 308,468 listings in October 2020 to 296,267. 

Compared to 12 months ago, listings were down by 12.6%.

All capital cities recorded decreases in property listings over the month with the exception of Melbourne which recorded an increase of 1.2% in listings.

Darwin, Sydney and Hobart posted the largest decreases of 6.7%, 6.4% and 6.1% respectively.

Brisbane recorded a 3.8% decrease, Adelaide 3.0% and Canberra 3.2%.  

Perth recorded the lowest decrease of 2.4%.

National year-on-year listings reveal a decrease of 12.6% with significant decreases in Darwin (28.2%) and Hobart (26.1%) and Adelaide (21.5%). 

Sydney recorded a smaller decrease of 0.7%.  Melbourne however, recorded a large increase of 11.5%.

Stock on Market Table:

New Listings (30 days)

Nationally, new listings (30 days) increased by a 0.48% over the course of November with 381 more properties on the market.

Darwin’s new listings increased by a significant 27.3%.

Melbourne new listings increased by 4.1%.

Sydney was the only capital city that recorded a decline in new listings.

There was a surprise decline in total listings for the month, which was predominantly driven by a decline in old listings.

The fall in old listings tells me stock is being absorbed at a quicker rate than levels recorded earlier this year.

It is yet another signal that buyer activity is on the rise.

Days on Market Tables:

November 2020

Asking Prices

Capital City Average asking prices decreased 0.1% for houses but increased 0.3% for units over the month to 1^st December.

Average asking prices are now $565,800 for units and $988,500 for houses. 

Compared to a year ago, the capital city asking prices posted an increase of 4.2% for houses but declined by 1.2% for units.

Over the month, Adelaide, Canberra and Darwin were the only capital cities to record asking price increases in both houses and units.

Sydney continues to record a decline in unit asking prices of 0.3% but recorded an increase of 1.6% for houses over the month.

Melbourne posted increases in unit asking prices of 1.4% but a 1.1% decline in house asking prices.

Perth and Hobart recorded declines in both house and unit prices over the month, 1.2% and 0.1% respectively for Perth, and Hobart declined 0.9% for houses and 1.4% for units.

Year on year, most capital cities recorded increases in house and unit asking prices with a significant increase of 19.2% in Hobart’s unit asking price. Darwin’s unit prices also increased by 13.4%.

Sydney’s unit prices declined 5.2% over the 12 months but house prices increased 5.5%.