Listings decline across the board: Pete Wargent
Pete WargentDecember 17, 2020
SQM Research reported that listing numbers declined across every capital city in August, and August listings nationally down by 4.3 percent from the prior year.
This is not unusual for August according to SQM, so we may see a rebound in September.
Over the past year Hobart has been the one significantly tightening market with listings down by 7 per cent in August to be 10.7 per cent lower than one year ago.
Darwin listings seem to have stabilised, while this was a better result for Perth, though median asking prices are lower than one year ago in both of these resources capital cities.
In Sydney total listings are 12.3 percent higher than one year ago.
According to SQM's managing director, Sydney's inner ring has seen record year-on-year declines in listings, but outer suburban and older stock is not shifting leading to the annual increase in total listings.
There has been much talk of an apartment corrections in the largest capital, but to date median asking prices are higher over the year in both Sydney (+5.2 percent) and Melbourne (+5.2 percent).
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.