The October listings surge backs off in November: SQM Research
The number of national residential listings fell 0.4% from October to November, according to new figures from SQM Research.
Listing numbers in Adelaide, Melbourne and Canberra had a monthly rise with falls recorded for Darwin, Sydney, Perth and Brisbane.
SQM Research managing director Louis Christopher said Sydney residential property listings weighed down the national figure this month.
"It is a little abnormal to record falls in listings during November as the annual spring selling season reaches a peak during this month. Nevertheless we were expecting a pullback of sorts due to the massive surge in listings recorded in October," he said.
"Overall I think it is a mixed property market and nothing released today has changed my view on this.
"Sydney experienced a yearly rise of 11.8%, with residential property listings climbing from 25,577 to 28,597. Darwin also experienced excessive yearly growth with sale listings up 11.4% based on a total 2,042 listings. These figures indicate that the number of property sellers in both residential markets has increased."
