Total property listings decreased in September

National residential property listings decreased in September by 1.2% from 293,053 listings in August 2020 to 289,566.

Compared to 12 months ago, listings were also down by 7.4%. Buy Home In Australia

Most capital cities recorded decreases in property listings over the month with the exception of Sydney and Perth which recorded a 1.8% and 0.9% increase, respectively.

Not surprisingly, Melbourne recorded the highest decline in property listings of 4.2% in September as Stage 4 Covid-19 lockdown continued.

Brisbane recorded the lowest decline of 0.2%.

National year-on-year listings reveal a decrease of 7.4% with significant decreases in Darwin (26.8%) and Hobart (18.1%), however Sydney recorded a large of 9.2% increase.

Melbourne’s decrease was smaller at 0.2%.

All other capital cities recorded declines over the 12 months.

Key Points

  • National residential property listings decreased in September by 2% from 293,053 listings in August 2020 to 289,566. Compared to 12 months ago, listings were also down by 7.4%.
  • Most capital cities recorded decreases in property listings over the month with the exception of Sydney and Perth which recorded a 8% and 0.9% increase, respectively.
  • Nationally New listings increased by 4% in September with 1,447 more listings in the market. However, Melbourne recorded a significant decrease in new listings of 41.3%.
  • Capital City Average asking prices remained stable for both houses and units over the month to 6th October. Average unit asking prices are $563,500 and houses $977,300.
  • Compared to a year ago, the capital city asking prices posted an increase of 6% for houses but declined by 0.6% for units.

Stock on Market Table:

City September 2019
Total
August 2020
Total
September 2020
Total
Monthly change % Yearly change
%
Sydney 28,773 30,888 31,429 1.8% 9.2%
Melbourne 34,824 36,305 34,771 -4.2% -0.2%
Brisbane 30,518 28,955 28,883 -0.2% -5.4%
Perth 23,731 22,066 22,272 0.9% -6.1%
Adelaide 15,825 14,229 14,062 -1.2% -11.1%
Canberra 4,350 3,902 3,844 -1.5% -11.6%
Darwin 1,969 1,487 1,441 -3.1% -26.8%
Hobart 2,122 1,782 1,737 -2.5% -18.1%
National 312,754 293,053 289,566 -1.2% -7.4%

New Listings (30 days)

Nationally, new listings (30 days) increased by 2.4% over the course of September with 1,447 more listings in the market.

Perth posted the highest increase in new listings of 8.9%, closely followed by Canberra with 8.8% increase.

However, Melbourne recorded the highest decrease in new listings of 41.3%. 

The fall in listings is a little abnormal for the spring season.

It has been predominantly driven by two factors which include sharp falls in new listings for Melbourne over the month; as well a sizable falls in older listings across the country.

This second reason may point to an increase in absorption rates.

In other words, there may have been increases in buyer activity over the month.

There has also been other evidence of increases in buyer activity. This includes the rises in asking prices, the rises in auction clearance rates and the increases in housing finance approvals.

Days on Market Tables:

September 2020

City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 13,234 4,913 2,976 3,786 6,520 31,429
Melbourne 4,404 4,441 5,334 7,635 12,957 34,771
Brisbane 7,646 5,293 3,657 4,438 7,849 28,883
Perth 5,504 3,257 2,505 3,161 7,845 22,272
Adelaide 4,420 2,175 1,247 1,833 4,387 14,062
Canberra 1,677 423 264 407 1,073 3,844
Darwin 162 112 91 129 947 1,441
Hobart 455 206 129 254 693 1,737
National 62,485 33,826 25,631 38,584 129,040 289,566

 

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

 

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

Asking Prices

Capital City Average asking prices remained stable for both houses and units over the month to 6th October.

Average unit asking prices are $563,500 and houses $977,300. House Model On Top Of Stack Of Money As Growth Of Mortgage Credit, Concept Of Property Management. Invesment And Risk Management.

Compared to a year ago, the capital city asking prices posted an increase of 4.6% for houses but declined by 0.6% for units.

Over the month, most capital cities recorded marginal asking price increases in houses and units, however, Sydney recorded a decline in unit asking prices of 0.4% and Hobart’s house prices declined by 0.1%. 

Darwin recorded declines in both house and unit prices of 0.3% and 0.2%, respectively.

Perth and Canberra posted the highest increase in house asking prices of 0.8% and Hobart’s unit asking price recorded a 1.0% increase.

Year on year, most capital cities recorded increases in house and unit asking prices with a significant increase of 20.3% in Hobart’s unit asking price and 9.8% in house asking prices.

Darwin however, experienced declines in house and unit prices of 3.1% and 1.2% respectively.

Sydney’s unit prices declined 3.3% over the 12 months but house prices increased 3.7%.

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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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