Adelaide bucks the falling listing trend: CoreLogic

Adelaide bucks the falling listing trend: CoreLogic
Adelaide bucks the falling listing trend: CoreLogic

New capital city listings remain down year on year - everywhere bar Adelaide, which has seen a minor increase.

The city with by far the sharpest drop in new listings is Darwin at -31.3%, according to CoreLogic.

Following close behind are Melbourne and Hobart, both down -18%, a significantly larger fall than Sydney's -6.6%.

In terms of overall listing numbers, a similar scene is being played out with the only significant changes being the -21% fall in Sydney listings, plus Perth joining Adelaide with increasing listing volumes.

Adelaide bucks the falling listing trend: CoreLogic

In contrast to these numbers, auction activity is set to rise across the combined capital cities this week with 2,436 homes scheduled to go under the hammer, making it the busiest week for auctions so far this year.

The busiest auction suburb this week is Reservoir with 21 homes set to go under the hammer, followed by Port Melbourne (19), and Kew (18).

The increase in auction activity is largely due to Melbourne, where vendors are rushing to auction prior to the Melbourne Cup week slowdown. The city is currently expecting around 1,435 auctions this week, the busiest week Melbourne has seen since this time last year, when 1,709 homes were taken to auction.

Sydney is set to see auction volumes remain relatively steady week-on-week, with 729 homes set to go under the hammer this week, while one year ago, 798 auctions were held across the city.

As for the smaller auction markets, Adelaide and Tasmania will see auction volumes increase week-on-week, while Brisbane, Canberra and Perth will see fewer auctions, according to CoreLogic data.

Tags: 
Adelaide Property Listings

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