Fresh property listing numbers at 12 year lows in Sydney and Melbourne

The number of properties currently listed for sale nationally is tracking at the lowest level in nine years, according to market analysis from CoreLogic.

Freshly advertised stock for sale is at its lowest level since 2010, down almost 22% from the same time last year.

Over the 28 days of July 27,848 newly listed properties were advertised for sale nationwide.

There has been a spurt as a week ago the fresh listings stood at 16,439.

In Sydney and Melbourne specifically, the number of newly advertised private treaty properties for sale hasn’t been as low as it is currently since CoreLogic began tracking listings in 2007 - 12 years ago.

Meanwhile Adelaide and Perth were the only auction markets to see a higher number of homes taken to auction this week compared to the same week one year ago.

As the market seemingly begins to stabilise however, there are signs that vendor confidence might be turning according to analyst Cameron Kusher who noted, “with the spring listing season only one month away, there is a strong chance listing numbers will rebound sharply as pent-up vendor demand is unleashed.”

Some 1,014 capital city homes are scheduled to go under the hammer this week, down 10 per cent on last week when 1,124 auctions took place, and lower than the 1,324 auctions held over the same week last year.

In Sydney, 352 homes are set for auction this week, down on the 394 auctions held last week and lower than the 462 auctions held last year.

Some 460 auctions are scheduled to take place across Melbourne this weekend, down on the week prior when 544 auctions took place across the city, and 26.9 per cent fewer auctions than the same week one year ago.