Fresh Sydney listings decline 20 percent amid extended lockdown: SQM

Louis Christopher, the managing director of SQM Research, noted Sydney saw a 19.7% decline in new listings.

Fresh Sydney listings decline 20 percent amid extended lockdown: SQM
Fresh Sydney listings decline 20 percent amid extended lockdown: SQM

New real estate listings (on the market for less than 30 days) fell 1.2% over July to 71,518 properties across the country.

The downward seasonal trend in new listings was lead by the 19.7% drop in Sydney, the July figures released by SQM Research reveal.

There were 11,953 new Sydney listings.

Sydney's total listings were down 5 percent to 25,411.

Old Sydney listings (over 180 days on market) fell too, indicating buyer demand remained present, despite the extended lockdown.

Overall national residential property listings rose in July 2021 by 1.1% to 238,834 from 236,218 in June 2021.

Melbourne recorded a rise in listings of 3.9% over the month to 37,318, as a result of a late surge in new listings. 

SQM's managing director Louis Christopher noted upward pressure on property prices remained as demand outstrips supply. 

Nationally, new listings (less than 30 days) fell 1.2% over July 2021 to 71,518 properties on the market.

"Older stock is clearing, property listings over 180 days dropped by 6% in July 2021 with falls posted recorded in all capital cities, led by Canberra," he said.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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Sydney Apartments

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