Number of new properties listed for sale rises in every state in last month: RP Data

The number of newly advertised homes for sale last month has risen from last month in every state but is down in NT and ACT, according to RP Data.

There were 49,173 new listings for the four weeks to October 7 across Australia, compared with 43,624 for the four weeks to September 9.

The number 0f properties for sale in Queensland rose the most for the month, jumping from 10,926 to 12,681.

Numbers in NSW rose from 12,519 to 13,893, numbers in Victoria rose from 10,051 to 11,875, WA rose from 5,283 to 5,656, SA rose from 2,757 to 2,999, and Tasmania rose from 1,121 to 1,196.

In the ACT the number of properties advertised for sale dropped from 600 to 521, and NT numbers dropped from 367 to 352.

Across Australia the number of advertised listings rose from 279,882 to 288,609.

The number of newly listed properties across Australia is the highest since early April of this year, RP Data says.

Year on year, the figures are still down for every state.

There were 49,173 new listings last month across Australia, compared with 56,786 for the same time last year.

New South Wales experienced the most drastic change, dropping from 17,619 to 13,893.

Numbers in Victoria dropped from 13,541 to 11,875.

Others states weren’t as drastic, with the number of new listings in Queensland slipping from 12,842 to 12,681, WA slipping from 6,451 to 5,656 , SA slipping from 3,829 to 2,999, NT from 409 to 352, ACT from 672 to 521 and Tasmania slipping from 1,423 to 1,196.

“Despite the rise in new listings, the number of properties being added to the market is 13.4% lower than what was recorded at the same time last year,” RP Data says.

“With new listings tracking low and some absorption of properties being readvertised, the total number of homes available for sale nationally is now just 1.7% lower than at the same time last year.

“Across the capital cities, total listings in the market are now 1.3% lower than last year.”

The total number of stock is slightly up from last year across Australia, rising from 283,856 to 288,609.

NT, WA and Queensland were the only states where total numbers of property available dropped slightly year on year.

Proportionally, NT had the greatest fall, dropping from 2019 to 1,684.

Source: RP Data