Sydney listings up 35 percent from last April: SQM
National residential listings fell in April 2018 by 3.8 percent from March, according to SQM Research.
Asking prices also fell over the month.
A total of 325,147 properties were listed in April.
In Sydney, listings fell by 4.4% from March but are up 34.9% from a year earlier as some homeowners seek to take profits on their homes before any sustained drop in prices.
Melbourne listings fell by 3.7% though they are now up 6.4% from a year earlier, reversing a previous a shortage of properties for sale in that city.
Listings fell in Hobart by 8.4% in April and are still down sharply or 26.8% from a year earlier, with a shortage of properties for sale helping to force asking property prices higher over the year to 1 May 2018.
City | April 2017 Total | March 2018 Total | April 2018 Total | Monthly change % | Yearly change % |
Adelaide | 15,579 | 16,912 | 16,235 | -4.0% | 4.2% |
Brisbane | 28,082 | 31,619 | 30,419 | -3.8% | 8.3% |
Canberra | 3,472 | 4,060 | 3,895 | -4.1% | 12.2% |
Darwin | 2,010 | 2,094 | 2,089 | -0.2% | 3.9% |
Hobart | 3,103 | 2,479 | 2,270 | -8.4% | -26.8% |
30,434 | 33,624 | 32,378 | -3.7% | 6.4% | |
Perth | 25,397 | 27,261 | 26,548 | -2.6% | 4.5% |
Sydney | 24,735 | 34,901 | 33,364 | -4.4% | 34.9% |
National | 322,400 | 338,113 | 325,147 | -3.8% | 0.9% |
In Canberra, listings fell 4.1% and in Adelaide they were down by 4.0%. In Brisbane, stock on market fell 3.8% while in Perth listings dropped 2.6%. In Darwin listing fell by just 0.2%.
SQM Research managing director Louis Christopher, said the falls are just seasonal.
“Compared to a year ago, listings are higher in most cities," he said.
"The falls recorded this month are just seasonal and reflect the Easter holiday period.
“Homeowners in Sydney are taking advantage of capital gains over recent times to list their properties for sale.
"We have also seen more stock in Melbourne compared to a year ago as some homeowners there seek to take profits too.
"However, in Hobart, home buyers are facing higher prices given an ongoing shortage of properties for sale,” said Mr Christopher.
Capital city average asking prices fell 0.8% for houses while unit asking prices fell 0.2% for the month to 1 May. In Sydney, asking house prices fell 1.1% while asking unit prices slipped 0.6%. Over the year, house asking prices were down by 1.0% to $1.36 million as the property market cools in Sydney.
In Melbourne, asking price for houses were up 0.5% over the month and 18.8% over the year, entrenching gains over $1 million.
Hobart’s asking property prices are cooling, with house prices down by 1.7% over the month to 1 May and they are up just 5.3% over the year, down from 20%-plus gains a year through 2017.
Capital city average asking prices fell 0.8% for houses while unit asking prices fell 0.2% for the month to 1 May. In Sydney, asking house prices fell 1.1% while asking unit prices slipped 0.6%. Over the year, house asking prices were down by 1.0% to $1.36 million as the property market cools in Sydney.
In Melbourne, asking price for houses were up 0.5% over the month and 18.8% over the year, entrenching gains over $1 million.
Hobart’s asking property prices are cooling too, with house prices down by 1.7% over the month to 1 May and they are up just 5.3% over the year, down from 20%-plus gains a year through 2017.
SQM have decided to review their annual Housing Boom and Bust Report, which they published in October 2017, due to recent developments to the housing market.