Total property listings decrease in November as old stock gets snapped up: SQM

Total property listings decrease in November as old stock gets snapped up: SQM
Total property listings decrease in November as old stock gets snapped up: SQM

National residential listings decreased by four per cent in November, and are now down -12.6 per cent compared to the time last year.

Listings dropped from 308,469 in October to 296,267 in November.

All capital cities recorded decreases in listings over the month with the exception of Melbournewhich posted an increase of 1.2 per cent.

Darwin saw the largest listing decrease, down -6.7 per cent, followed by -6.4 per cent declines in Sydney and -6.1 per cent in Hobart.

Darwin, Sydney and Hobart posted the largest decreases of 6.7%, 6.4% and 6.1% respectively.

Brisbane recorded a -3.8 percent decrease, Canberra -3.2 per cent and Adelaide three per cent. Perth recorded the lowest decrease of -2.4 per cent.

Louis Christopher, managing director of SQM Research said the surprising decline in total listings for the month was predominantly driven by a decline in old listings.

"The fall in old listings tells me stock is being absorbed at a quicker rate than levels recorded earlier this year. It is a yet another signal that buyer activity is on the rise.”

Total property listings decrease in November as old stock gets snapped up: SQM

National year-on-year listings decreased -12.6 per cent, with significant decreases in Darwin (-28.2 per cent) and Hobart (-26.1 per cent) and Adelaide (-21.5 per cent).  

Sydney recorded a smaller decrease of 0.7 per cent. Melbourne however, recorded a large increase of 11.5 per cent. 

New listings across the country rose, just 0.48 per cent in November, with 381 more new properties listed for sale.

Darwin’s new listings increased by a significant 27.3 per cent. New listings in Melbourne increased by 4.1 per cent, while Sydney was the only capital that recorded a decline in new listings.

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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Sqm Research Residential Listings

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