Vendors show they are keen to sell
Contact
Feb 6, 2020
Vendors show they are keen to sell
SQM Research has revealed that national residential property listings are on their way up.
-
SQM ResearchProperty listings on the rise as confidence in real estate returns, according to Louis Christopher of SQM Research.
Figures released by SQM Research, reveal national residential property listings increased in January by 2.2 per cent from 288,966 in December 2019 to 295,295.
Compared to 12 months ago, listings were down by 10 per cent.
All capital cities experienced increases in property listings over the month with the largest increase in Sydney of 5.1 per cent, followed closely by Hobart with a 4.9 per cent increase.
At a glance:
- Residential property listings increased from December 2019 of 288,966 to 295,295 in January 2020
- Largest increase was in Sydney with 5.1 per cent
- Smallest increase was 0.6 per cent in Canberra
Canberra had the smallest increase of 0.6 per cent listings.
Year-on-year listings show declines for all capital cities with Sydney recording a significant decline of 24.8 per cent and Darwin a 24.7 per cent decline this time last year.
However new listings (listings less than 30 days old) recorded a surge for the month and are higher than the same levels recorded in January 2019.
The month of January traditionally records small falls in properties listed for sale as the market is still in a summer holiday mode however, the positive start in new listings shows vendors are now keen to sell and we could see further increases in the coming months.
Source: SQM Research
Asking Prices
Capital City asking prices decreased by 0.4 per cent for both houses and units, over the month to 28th January 2020.
The year commenced with unit asking prices at $575,100 and houses $973,500.
Compared to a year ago, the capital city asking prices posted increases of 5.5 per cent for houses but a 0.1 per cent decline for units.
Source: SQM Research
Over the month, Melbourne, Brisbane, Adelaide and Hobart recorded increases in both house and unit prices.
Sydney was the only city to post declines in both, houses and units, 0.6 per cent for houses and 0.7 per cent for unit prices.
Perth and Canberra recorded minor decreases in house prices of 1.1 per cent for Perth and 0.4 per cent for Canberra houses.
Darwin house market has made a turnaround with increase of 0.6 per cent in house prices however unit prices declined 0.4 per cent.
Canberra had the strongest growth of 1.4 per cent in the unit market whilst Hobart’s house prices had the strongest growth of 1.3 per cent.
Similar to this:
Sellers respond to rising market with property listings increase
Contact Details:
