Residential listings rise 10% in Sydney to 31,833 but stabilise nationally in February: SQM

The number of Sydney residential properties listed for sale increased by 10.5% in February, bucking a 0.1% national decline in listings, according to the latest figures compiled by SQM Research. 

Canberra listings increased by 7.5% during February, while Melbourne listings were up by 2%. 

Listings were flat in Brisbane (0.2%) and Perth listings were flat (0.3%), while declines were recorded in Adelaide, Darwin and Hobart. 

Year-on-year Hobart has the highest increase in residential stock (up 36.5%), followed by Melbourne (19.8%), Canberra (12.8%) and Adelaide (12.1%).

Managing director of SQM Research Louis Christopher says there is more evidence “that stock levels have been peaking, particularly for the cities of Perth and Brisbane, which having been recording some signs of a recovery on other measurements”. 

“Overall we are cautious and perhaps a little more cautious than at the start of the year, given the lacklustre start to the auction season and the rise in interest rates by the major banks, which we believe has dented sentiment towards real estate,” says Christopher.

The number of residential listings in Melbourne in February, up 2% in February and up 19.8% year-on-year

 


 

The number of residential listings in Sydney in February, up 10.5% in February and up 4.2% year-on-year

 


The number of residential listings in Brisbane in February, up 0.2% in February, but down 2.4% year-on-year

 


The number of residential listings in Perth in February, up 0.3% in February, but down 7.5% year-on-year

 


The number of residential listings in Adelaide in February, down 4% in February, but still up 12.1% year-on-year

 


 

The number of residential listings in Hobart in February, down 2% in February, but still up 36.5% year-on-year

 


 

The number of residential listings in Canberra in February, up 7.5% in February and down 12.8% year-on-year

 


 

The number of residential listings in Darwin in February, down 2.9% in February and down 18.6% year-on-year

 


 

The number of national residential listings in February, down 0.1% in February but still up 7.7% year-on-year

 

 

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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