Tuesday, March 5, 2019

Property listings are on the rise

National residential listings increased by 4.6% in February 2019 to 343,190 from 328,089 in January 2019 as homeowners re-emerged from the summer break to list their properties for sale. 12353887_l

All states experienced an increase in listings except for Darwin which was down 0.8% in February and down 1.6% year-on-year.

Canberra recorded the highest increase in listings at 12.5%, followed by Sydney at 11.6% and Melbourne 9.6%.

Hobart recorded the lowest increase at 3.2%.

Compared to a year ago, national listings rose 7.9%.

Melbourne’s year-on-year listings was the highest at 30.8%, followed by Canberra at 21.4%.

City February 2018 Total January 2019 Total February 2019 Total Monthly change % Yearly
change %
Sydney 31,204 31,993 35,704 11.6% 14.4%
Melbourne 29,636 35,395 38,776 9.6% 30.8%
Brisbane 29,565 31,086 32,172 3.5% 8.8%
Perth 25,443 26,136 27,031 3.4% 6.2%
Adelaide 15,714 15,946 16,822 5.5% 7.1%
Canberra 3,819 4,122 4,637 12.5% 21.4%
Darwin 2,031 2,015 1,998 -0.8% -1.6%
Hobart 2,299 2,318 2,393 3.2% 4.1%
National 317,984 328,089 343,190 4.6% 7.9%

Key Points

  • National residential listings increased by 6% in February 2019 to 343,190 from 328,089 in January 2019.
  • All states experienced an increase in listings except for Darwin which was down 8%
  • Canberra recorded the highest increase in listings at 5%.  
    investor-enquiry-form
  • Hobart recorded the lowest increase at 2%.
  • Capital City asking prices for units and houses declined by 5% and 0.6% respectively, for the month to 5 March 2019. Unit asking prices are now $570,100 and houses $910,700.
  • Hobart is still outperforming all states, posting increases in both unit and house asking prices over the month of 9% and 1.5% respectively.
  • Adelaide is also slowly bouncing back with increases in unit prices of 2% and house prices of 0.3% over the month.

The rise in February listings was expected as homeowners listed their properties with the new year well underway.

The year-on-year listings, together with ongoing falls in asking prices still provide evidence of a weak national housing market.

Darwin was the only city to record a drop in listings, falling by 0.8% for the month.

Asking Prices

Capital City asking prices for units and houses declined by 0.5% and 0.6% respectively, for the month to 5 March 2019.

Unit asking prices are now $570,100 and houses $910,700.

Melbourne’s house asking prices saw the largest monthly decline of 2.3%.

The city’s unit prices declined by a modest 0.1%.

Hobart is still outperforming all states, posting increases in both unit and house asking prices over the month of 2.9% and 1.5% respectively.

Adelaide is also slowly bouncing back with increases in unit prices of 0.2% and house prices of 0.3% over the month.  Buy Home In Australia

Whilst Brisbane managed a 0.3% increase in units but a 0.5% decline in house prices.

Year-on-year capital city asking prices also experienced declines of 2.4% for units and 5.9% for houses, with Hobart continuing to show the strongest growth for both houses and units with a 6.0% increase in houses and 11.5% for units.

Canberra also experienced yearly growth with 1.9% increase in houses and 1.8% increase in units.

Sydney’s 12 month decline is now 9.8% for houses and 4.6% for units.

Year-on-year capital city asking prices also experienced declines of 2.4% for units and 5.9% for houses, with Hobart continuing to show the strongest growth for both houses and units with a 6.0% increase in houses and 11.5% for units.

Canberra also experienced yearly growth with 1.9% increase in houses and 1.8% increase in units.

Sydney’s 12 month decline is now 9.8% for houses and 4.6% for units.

SQM Research Weekly Asking Prices Index

Week ending: 5 Mar 2019 Asking Price Change on
prev week
Rolling mth
% change
12 mth
% change
Sydney All Houses 1,235.0 -3.1 -0.4% -9.8%
All Units 701.8 -2.1 -0.7% -4.6%
Melbourne All Houses 941.5 -1.0 -2.3% -4.6%
All Units 551.8 0.6 -0.1% 2.0%
Brisbane All Houses 616.8 -0.9 -0.5% 0.6%
All Units 375.9 0.4 0.3% -1.2%
Perth All Houses 663.0 -0.2 -0.4% -3.4%
All Units 386.7 -1.5 -0.8% -2.5%
Adelaide All Houses 516.8 0.4 0.3% 1.1%
All Units 301.7 -0.2 0.2% -1.7%
Canberra All Houses 816.4 0.3 -1.2% 1.9%
All Units 420.0 -1.0 -0.8% 1.8%
Darwin All Houses 583.3 -0.2 -0.3% -2.3%
All Units 400.6 -0.7 -0.7% 3.6%
Hobart All Houses 503.5 1.8 1.5% 6.0%
All Units 327.2 3.1 2.9% 11.5%
National All Houses 567.4 2.3 0.1% -1.6%
All Units 374.8 0.5 -0.4% -0.9%
Cap City Average All Houses 910.7 2.2 -0.6% -5.9%
All Units 570.1 -1.2 -0.5% -2.4%

Source: www.sqmresearch.com.au

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