As shown above, for sale listings in the month of November fell across four markets and rose across four.

Over the year, listings have launched in Sydney (+11.8%) and Darwin (+11.4%), and are also up strongly in Perth (+6.6%). However, they are down sharply in Melbourne (-7.0%) and Hobart (-9.1%), and have shown less movement elsewhere.

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

“It is a little abnormal to record falls in listings during November as the annual spring selling season reaches a peak during this month. Nevertheless we were expecting a pullback of sorts due to the massive surge in listings recorded in October. Overall I think it is a mixed property market and nothing released today has changed my view on this”.

Along with the surging listings in Sydney over the past year, asking prices also fell in November, down by 0.3% (houses) and 0.5% (units), taking the median asking price to $1,139,600 for houses and $637,400 for units (see below table).

By contrast, asking prices in Melbourne continued to rise, up by 1.1% (houses) and 0.7% (units) in November.

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.

unconventionaleconomist@hotmail.com

For sale listings launch in Sydney