By Leith van Onselen

As shown above, for sale listings rose across every market, but surged by a massive 22.5% in Sydney over October, which follows September’s 7.6% rise.

Over the year, listings have risen strongly in Darwin (+14.2%), Perth (+9.8%) and Sydney (+11.6%), but are down sharply in Melbourne (-9.6%) and Hobart (-8.1%), and have shown less movement elsewhere.

Commenting on the results, Managing Director of SQM Research, Louis Christopher, noted that the Sydney market has clearly changed track:

“More and more vendors are now struggling to sell in Sydney as buyers become cautious in their bidding compared to earlier this year. I think for now this is set to continue through to Christmas”.

While listings in Sydney surged in October, asking prices showed minimal movement, with Sydney houses recording a median asking price of $1,143,000 – unchanged from September – while the median asking price for units is $639,600 – up 0.6% from September:

Overall, it remains a multi-speed market, with strong annual rises in asking prices recorded in Sydney and Melbourne, solid growth recorded in Brisbane, flatish growth recorded in Adelaide, and falls recorded elsewhere.

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For sale listings explode in Sydney