Property listings still low, but stock levels on the rise: CoreLogic

Property listings still low, but stock levels on the rise: CoreLogic
Property listings still low, but stock levels on the rise: CoreLogic

There were 2,480 capital city auctions over the week ending September 25, with CoreLogic collecting results for 2,250 (almost 91%) of these auctions.

The final clearance rate was recorded at 75.4%, which was lower than the 76.2% across 2,149 auctions the previous week.

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Property listings still low, but stock levels on the rise: CoreLogic

Last week in Melbourne, there were 1,103 auctions compared to 965 auctions the previous week. Last week’s auction clearance rate was recorded at 77.2% which was slightly lower than the 77.8% the previous week. In Sydney, the auction clearance rate was recorded at 80.4% last week, which was lower than the 81.6% recorded over the previous week.

Sydney recorded a higher number of auctions last week (945) compared to the previous week (815). In Melbourne, auction clearance rates have now been above 75% for seven consecutive weeks. In Sydney, auction clearance rates have been above 80% for four consecutive weeks and for five of the past six weeks.

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Property listings still low, but stock levels on the rise: CoreLogic

There were 45,675 newly advertised properties added to the market nationally over the past 28 days, which was -0.4% lower than at the same time a year ago. Meanwhile, there were 233,315 total properties advertised for sale over the same period – some -0.3% lower than a year ago.

Across the combined capital cities, there were 27,443 newly advertised listings over the past 28 days, -3.1% lower than a year ago. There were 104,439 total listings, which was 5.3% higher than a year ago. Newly advertised listings are currently lower than a year ago in Sydney (-18.3%), Melbourne (-2.3%) and Adelaide with new listings higher elsewhere.

In terms of total properties advertised for sale, supply is lower than a year ago in Sydney (-2.7%), Hobart (-25.7%) and Canberra (-8.2%).

Despite the fact that new and total listings are slightly lower year on year, both are continuing to trend higher, indicating that stock levels are slowly rising.

Tags: 
Property market Corelogic

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