Sydney property listings jump 14% YoY

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By Leith van Onselen

From SQM Research comes stock on market figures for the month of July, which registered a seasonal 0.9% monthly rise in the number of homes for sale, although listings were down by 0.4% year-on-year (see below table).

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As shown above, listing increases were recorded everywhere except Hobart in July.

Over the year, for sale listings rose by 13.8% in Sydney, by 7.9% in Brisbane, by 6.1% in Perth, and by 4.7% in Adelaide, but have plummeted by 9.9% in Hobart. Elsewhere there has been only minimal movement.

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Turning to asking prices, you can see that year-on-year growth is particularly strong in Melbourne and Hobart and solid in Sydney, Brisbane and Canberra, but soft in Perth, Darwin and Adelaide:

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Commenting on the results, Managing Director of SQM Research, Louis Christopher, noted:

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“Listings and asking prices for the national residential property market still suggest a mixed picture with Melbourne and to a lesser extent Sydney, recording buoyant markets, while other cities recording a weaker market environment. Going forward, the market is likely to rally further given the latest rate cut decision. There is a possibility now that Melbourne dwelling prices could accelerate from an already heated rate of growth. And if Sydney were to also accelerate I think we could see APRA stepping into the market once again as early as fourth quarter this year”.

About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.