Total Property Listings Increased in July

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National residential property listings increased in July by 3.8% from 301,140 listings in June 2020 to 312,680. Compared to 12 months ago, listings were down by 1.2%. 

Nearly all capital cities experienced increases in property listings over the month except for Darwin which recorded a 1.4% decrease. Buy Home In Australia

The largest listings increase was in Sydney at 8.7% followed by Canberra with 6.4%.

Melbourne and Brisbane both recorded a 5.9% increase.

Adelaide and Perth experienced smaller increases of 2.4% and 3.2% respectively.

Year-on-year listings show more significant increases in Sydney and Melbourne at 10.7% and 20.7% respectively.

All other capital cities recorded declines over the 12 months.

Darwin especially recorded high declines of 21.4% and Hobart declined by 10.0%.

Stock on Market Table:

CityJuly 2019
Total
June 2020
Total
July 2020
Total
Monthly change %Yearly change %
Sydney29,05529,59032,1658.7%10.7%
Melbourne34,64639,49441,8195.9%20.7%
Brisbane31,03828,81430,5005.9%-1.7%
Perth24,77021,83322,5253.2%-9.1%
Adelaide15,87614,75615,1082.4%-4.8%
Canberra4,2263,9174,1666.4%-1.4%
Darwin1,9651,5661,544-1.4%-21.4%
Hobart2,1841,9471,9661.0%-10.0%
National316,391 301,140 312,680 3.8%-1.2%

Commentary

It is somewhat abnormal to record a rise in listings during the winter months. Normally, falls are recorded.

This could have been generated by the lifting in restrictions over May and June, enticing sellers to the market.

The year on year results for Sydney and Melbourne tell the story with significant rises, particularly for Melbourne.

Such a reading normally is associated with a weakening market and no question, this is what is occurring in our two largest cities. Dwelling prices are falling.

Not crashing to date, per se.

But in light of the unprecedented restrictions placed in Melbourne, our expectations are that more prices falls in can be expected in coming months.

Outside the two capital cities, the market is more balanced and indeed we are seeing an increase in demand for housing across regional Australia.”

Days on Market Tables:

July 2020
City< 30 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney13,0854,6882,5305,7356,12732,165
Melbourne13,9066,5433,5458,2539,57241,819
Brisbane8,1935,0573,0796,1378,03430,500
Perth5,1983,2351,8674,0168,20922,525
Adelaide3,9982,2071,3522,8244,72715,108
Canberra1,6284483186751,0974,166
Darwin166100641751,0391,544
Hobart5171931553847171,966
National67,86733,21721,30753,075137,214312,680

 

June 2020
City< 30 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney10,7573,8262,7805,9726,25529,590
Melbourne12,6125,1233,9418,3379,48139,494
Brisbane7,0794,1122,9996,4788,14628,814
Perth4,9802,3891,5624,3688,53421,833
Adelaide3,7122,0601,3452,9934,64614,756
Canberra1,1564464276181,2703,917
Darwin14182592111,0731,566
Hobart3852361764507001,947
National57,36328,07221,85155,535138,319301,140

 

July 2019

City< 30 days30-60 days60-90 days90-180 days> 180 daysTotal Listings
Sydney8,3603,6072,8585,9028,32829,055
Melbourne10,0343,9963,3996,75110,46634,646
Brisbane6,7305,0683,7166,7828,74231,038
Perth4,6712,8492,9285,6638,65924,770
Adelaide3,9392,3211,5663,5074,54315,876
Canberra1,0684436169551,1444,226
Darwin2041351123141,2001,965
Hobart4922542514187692,184
National55,93231,12326,78361,056141,497316,391

Asking Prices

Capital City average asking prices decreased by 0.2% for houses and 0.8% for units, over the month to 4 August.

Average unit asking prices are now at $565,800 and houses $983,900.

Compared to a year ago, the capital city asking prices posted an increase of 7.0% for houses but a 0.1% decrease for units. recession-australia-note-money-economy-squeeze-tighten-save-saving-budget-cut

Over the month, Sydney, Melbourne, Adelaide and Hobart all recorded marginal asking price decreases in both houses and units, with Sydney recording the highest decline in unit asking prices of 1.0% and Canberra recording the highest decline in house prices of 2.0%. 

However, Canberra’s asking prices for units increased by 0.6%, as did Darwin with a 1.0% increase.

Perth’s unit prices declined by 0.1% and house prices remained stable.

Brisbane was the only capital city to record increases in house prices of 0.3%.

Year on year, most capital cities were recording significant increases in house and unit asking prices with the exception of Darwin which experienced declines in house and unit prices of 3.1% and 2.2% respectively.

Sydney and Melbourne recorded 9.0% increase in house price growth as did Hobart with large increases of 11.5% in house prices and 21.7% in unit prices.

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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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