New property listings at their highest level since last November: CoreLogic
There were 50,856 newly advertised properties for sale nationally over the 28 days to 13 November 2016 and 242,525 total properties for sale, according to CoreLogic’s latest weekly report.
The property data firm says that although the number of newly advertised properties is 1% lower than a year ago, new listings are at their highest level since November of last year. Total listings are 2.5% lower than a year ago, but at their highest level since early June of this year.
Across the combined capital cities, the total of 32,135 newly advertised properties is 3.3% lower than 12 months ago, while the figure of 112,862 total listings represents a 1.9% increase from a year ago.
Newly advertised properties are lower than they were a year ago in Sydney (-12.5%), Melbourne (-4.5%), Adelaide (-1.3%), Hobart (-2.5%) and Darwin (-26.7%).
While listings are substantially lower than a year ago in many of these cities, it is somewhat more difficult to reconcile the 9.5% annual rise in Brisbane and 4.9% rise in Perth given no substantial uptick in housing demand in those cities.
In terms of total listings, although across the combined capitals they are slightly higher than a year ago, they are lower in Sydney (-10.1%), Melbourne (-1.8%), Hobart (-31.5%), Darwin (-0.2%) and Canberra (-10.6%).
There has been a somewhat counter-intuitive substantial rise in total listings in Brisbane (11.8%) and Perth (18.9%).