Total Property Listings Increased in July

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:

City July 2019
Total
June 2020
Total
July 2020
Total
Monthly change % Yearly change %
Sydney 29,055 29,590 32,165 8.7% 10.7%
Melbourne 34,646 39,494 41,819 5.9% 20.7%
Brisbane 31,038 28,814 30,500 5.9% -1.7%
Perth 24,770 21,833 22,525 3.2% -9.1%
Adelaide 15,876 14,756 15,108 2.4% -4.8%
Canberra 4,226 3,917 4,166 6.4% -1.4%
Darwin 1,965 1,566 1,544 -1.4% -21.4%
Hobart 2,184 1,947 1,966 1.0% -10.0%
National 316,391 301,140 312,680 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 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

 

June 2020
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 10,757 3,826 2,780 5,972 6,255 29,590
Melbourne 12,612 5,123 3,941 8,337 9,481 39,494
Brisbane 7,079 4,112 2,999 6,478 8,146 28,814
Perth 4,980 2,389 1,562 4,368 8,534 21,833
Adelaide 3,712 2,060 1,345 2,993 4,646 14,756
Canberra 1,156 446 427 618 1,270 3,917
Darwin 141 82 59 211 1,073 1,566
Hobart 385 236 176 450 700 1,947
National 57,363 28,072 21,851 55,535 138,319 301,140

 

July 2019

City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 8,360 3,607 2,858 5,902 8,328 29,055
Melbourne 10,034 3,996 3,399 6,751 10,466 34,646
Brisbane 6,730 5,068 3,716 6,782 8,742 31,038
Perth 4,671 2,849 2,928 5,663 8,659 24,770
Adelaide 3,939 2,321 1,566 3,507 4,543 15,876
Canberra 1,068 443 616 955 1,144 4,226
Darwin 204 135 112 314 1,200 1,965
Hobart 492 254 251 418 769 2,184
National 55,932 31,123 26,783 61,056 141,497 316,391

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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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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