Total Property Listings Increased

National residential property listings increased in May by 3.9% from 292,775 listings in April 2020 to 304,137.

Compared to 12 months ago, listings were down by 12.0%. Buy Home In Australia

All capital cities experienced increases in property listings over the month except for Canberra which posted a marginal 0.8% decrease.

The largest listings increase was in Melbourne and Sydney at 11.6% and 10.9% increase, respectively.

Hobart also recorded a large increase of 7.8%.

Year-on-year listings show more significant declines for all capital cities with Perth recording a 20.0% decline, followed by Darwin with a 18.8% decline and Hobart a 15.8% decline this time last year.

Stock on Market Table:

City May 2019
Total
April 2020 Total May 2020
Total
Monthly change % Yearly change %
Sydney 35,196 27,101 30,059 10.9% -14.6%
Melbourne 40,163 34,437 38,447 11.6% -4.3%
Brisbane 33,085 28,306 28,812 1.8% -12.9%
Perth 27,194 21,617 21,749 0.6% -20.0%
Adelaide 17,408 15,076 15,317 1.6% -12.0%
Canberra 4,745 4,187 4,153 -0.8% -12.5%
Darwin 2,038 1,614 1,654 2.5% -18.8%
Hobart 2,500 1,954 2,106 7.8% -15.8%
National 345,516 292,775 304,137 3.9% -12.0%

Key Points:

  • National residential property listings increased in May by 9% from 292,775 listings in April March 2020 to 304,137. Compared to 12 months ago, listings were down by 12.0%.
  • All capital cities experienced increases in property listings over the month except for Canberra which posted a marginal 8% decrease.
  • There was a minor decline in listings that have been on the market between 30 to 60 days, suggesting a drop of sales activity for the month. Sydney and Melbourne did record rises
  • Stock over 60 days rose by 12% to 221,117 residential dwellings.
  • Capital City average asking prices increased by 5% for houses and decreased 0.1% for units, over the month to 2nd June 2020. Unit asking prices are now at $573,300 and houses $997,400.
  • Compared to a year ago, the capital city asking prices posted increases of 2% for houses and 2.5% increase for units.

Overall, there was a rise in listings at the national level, driven by older stock not selling.

We have recorded a 12% increase in listings of over 60 days.

This tells me it is a patchy market with vendors struggling to meet their pricing expectations.

New listings actually fell for the month at the national level, which is abnormal for May.

Though we have recorded rises in new listings for Sydney and Melbourne, other cities such as Brisbane, Adelaide and others recorded a decline in new stock.

Many regional locations also recorded falls in new listings.

Days on Market Tables:

May 2020
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 9,583 4,730 5,258 3,899 6,589 30,059
Melbourne 10,787 6,155 6,034 5,988 9,483 38,447
Brisbane 6,192 4,293 4,752 5,099 8,476 28,812
Perth 4,271 2,276 2,646 3,661 8,895 21,749
Adelaide 3,868 2,043 2,042 2,400 4,964 15,317
Canberra 1,094 776 516 483 1,284 4,153
Darwin 119 74 118 192 1,151 1,654
Hobart 405 274 274 404 749 2,106
National 51,665 31,355 34,188 47,256 139,673 304,137

 

April 2020

City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 8,809 7,151 2,677 2,503 5,961 27,101
Melbourne 10,486 7,928 3,638 4,219 8,166 34,437
Brisbane 6,268 6,134 3,562 4,302 8,040 28,306
Perth 4,103 3,262 2,421 3,402 8,429 21,617
Adelaide 4,037 2,536 1,493 2,459 4,551 15,076
Canberra 1,316 805 380 426 1,260 4,187
Darwin 98 132 112 146 1,126 1,614
Hobart 443 302 236 301 672 1,954
National 51,806 43,455 26,304 41,819 129,391 292,775

 

May 2019
City < 30 days 30-60 days 60-90 days 90-180 days > 180 days Total Listings
Sydney 9,931 4,862 4,631 5,793 9,979 35,196
Melbourne 11,914 5,205 4,904 6,268 11,872 40,163
Brisbane 7,385 5,013 4,643 6,559 9,485 33,085
Perth 5,501 3,181 3,537 5,561 9,414 27,194
Adelaide 4,552 2,933 1,976 2,894 5,053 17,408
Canberra 1,327 728 590 849 1,251 4,745
Darwin 212 156 136 277 1,257 2,038
Hobart 660 346 209 492 793 2,500
National 61,718 38,347 35,172 57,843 152,436 345,516

Asking Prices

Capital City average asking prices increased by 0.5% for houses and decreased 0.1% for units, over the month to 2nd June 2020. Unit asking prices are now at $573,300 and houses $997,400.

Compared to a year ago, the capital city asking prices posted increases of 10.2% for houses and 2.5% increase for units. recession-australia-note-money-economy-squeeze-tighten-save-saving-budget-cut

Over the month, most capital cities recorded marginal asking price increases however, Sydney’s unit prices declined by 0.4%, and Brisbane, Darwin and Hobart’s house prices all recorded declines of 0.3%, 1.1% and 0.1%, respectively.

Strongest monthly growth was seen in Darwin’s unit prices with a huge 7.2% increase, followed by Hobart with a 1.5% unit price increase and Perth’s houses had a 1.2% increase.

Year on year, it was only Perth and Darwin that experienced declines in house and unit prices.

All other capital cities recorded growth this time last year with Sydney recording a strong 13.7% house price growth, Melbourne 11.9% house price growth and Hobart a 10.0% house price growth and 18.2% unit price growth, this time last year.

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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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