Slight listings decline in November: Pete Wargent
Pete WargentDecember 17, 2020
SQM Research found that listings fell slightly by 0.4% in November, with monthly falls being seen in Sydney, Brisbane and Perth.
This is fairly unusual to see as the spring selling season typically reaches its peak, although the decline did follow on from a surge in October.
Over the past year listings are up in Sydney (+11.8%) and Darwin (+11.4%).
On the other hand Melbourne (-7.0%) and Hobart (-9.1%) listings have declined sharply over the year.
Despite the increased vendor activity in Sydney over the past 12 months, the harbour city still only had 28,597 listings as at November 2015 compared to more than 44,000 in Melbourne.
A market slowdown is to be expected in Sydney given that house prices have increased by +59.4 per cent since July 2012, or nearly $400,000.
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.
His latest book is Four Green Houses and a Red Hotel.
Pete Wargent
Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.