First month of spring returns lift in new listings: CoreLogic RP Data's Shana Miller

First month of spring returns lift in new listings: CoreLogic RP Data's Shana Miller
First month of spring returns lift in new listings: CoreLogic RP Data's Shana Miller

As they do every year, new listings increased over the first month of spring, with further additions of stock to the market expected to ramp up until the end of year slow-down in December.

In addition to the number of listings being added to the market CoreLogic RP Data’s lead listings indicator is also showing a 1.6% month-on-month change (seasonally adjusted), with Tasmania (+5.2%) and Victoria (3.4%) showing the most activity of listings being prepared for sale.

In terms of listing stock, the largest proportionate increases this month relative to last month have been observed in Brisbane, where the number of residential properties added to the market over the four weeks ending 27 September was 12.9% higher than the four week period a month earlier. Following Brisbane was Hobart (12.5% higher) and Adelaide (11.0% higher).

Despite the increase in new listings, total stock levels remain just 1.2 per cent higher relative to one year ago across the combined capital cities, while nationally; total listings are -0.6 per cent lower. As at 27 September, there were 234,094 residential properties available for sale across Australia, while one year ago, there were 235,399.

When compared to last year, across the capital cities, total listings are higher in Perth (+20.7%), Darwin (+12.3%) and for the first time this year, Sydney (+4.7%). In Sydney, one of the reasons the total stock levels are now higher than one year ago is likely due to the increase in stock being added to the market. New listings across the city are 16 per cent higher than one year ago, to put this into perspective, over the comparable 28 day period one year ago, 7,431 listings were newly added to the market, compared to 8,617 this year.

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First month of spring returns lift in new listings: CoreLogic RP Data's Shana Miller

Click to enlarge

First month of spring returns lift in new listings: CoreLogic RP Data's Shana Miller

Across the individual states and territories, there are more listings than one year ago in Western Australia, Northern Territory (both +12.9%) and to a lesser degree, South Australia (+2.2%), while across these three regions, the number of new listings added to the market over the past four weeks is lower than one year ago. In all other states and territories, total listings are currently lower than they were relative to last year.

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First month of spring returns lift in new listings: CoreLogic RP Data's Shana Miller

Shana Miller

Shana Miller

Shana Miller is a research analyst with RP Data.

Tags: 
Property market Residential Sales

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