Spring 2021 established apartment listings on the rise: CoreLogic

The new listings uplift in total stock has especially been across Melbourne, Sydney and regional Victoria. 

Spring 2021 established apartment listings on the rise: CoreLogic
The new listings uplift in total stock has especially been across Melbourne, Sydney and regional Victoria.

Apartment listings freshly added to 2021 spring market have risen 39% in the past four weeks, compared to a 24% rise in new house listings.

Compared with the pre-COVID five-year average, new house listings are still trending 5.5% lower, according to CoreLogic.

However unit listings are trending 11% higher. 

"Given the relative popularity of detached housing through the pandemic, buyers may still find the volume of house listings relatively constrained," Eliza Owen at CoreLogic advised.

Owen noted national house values have increased 22.9% in the 12 months to September compared with a 12% rise in units.

The new listings uplift in total stock has especially been across Melbourne, Sydney and regional Victoria. 

Smaller increases have been seen across regional Tasmania, Hobart and the ACT. 

"However, every other regional and capital city market is experiencing a fall in total stock levels," Owen added.

"Based on what has been observed in previous years, new listings volumes are likely to continue rising over the coming weeks, before a seasonal decline from around mid-to-late November. 

"The highest growth in listings still seems concentrated in less desirable markets for owner occupiers, such as in the unit segment and across high investor concentrated markets across Sydney and Melbourne. 

"While there are signs vendors are responding to the high price growth in some of the popular or coastal markets, which could create more bargaining power for some buyers, listings volumes are in many cases still well below historic averages.

"With investor activity also stepping up through 2021, the lift in advertised supply across areas more aligned with rental housing is arguably well timed," she 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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Melbourne apartments

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