Total property listings drop in September: SQM Research

Total property listings drop in September: SQM Research
Total property listings drop in September: SQM Research

The number of residential property listings nationally fell -1.2 per cent in September, according to the latest data from SQM Research. 

They dropped from 293,053 in August to 289,566, which is -7.4 per cent down on listings 12 months ago.

New listings were up 2.4 per cent however over September nationally, with 1,447 more listings hitting the market. And that's taking in to account Melbourne's -41.3 per cent decline in new listings.

Louis Christopher, managing director of SQM Research, says the fall in listings is a little abnormal for the spring season.

"It has been predominantly driven by two factors which include sharp falls in new listings for Melbourne over the month; as well a sizeable falls in older listings across the country.

Total property listings drop in September: SQM Research

"This second reason may point to an increase in absorption rates.

"In other words, there may have been increases in buyer activity over the month. There has also been other evidence of increases in buyer activity.

"This includes the rises in asking prices, the rises in auction clearance rates and the increases in housing finance approvals.”

Only Sydney and Perth bucked the trend of a drop in listings. Sydney saw its listings jump 1.8 per cent and Perth 0.9 per cent.

Sydney has 9.2 per cent more listings than it had 12 months ago. 

 

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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Sqm Research Property Listings

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