From SQM Research is the latest on residential property listings, which fell over 5% in December last year, but are still way up on year to year figures with Sydney experiencing a big monthly rise in stock levels.
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Year-on-year results indicate that residential property listings are up for most capital cities. Notably, property listings in Sydney and Canberra are considerably higher than this time last year (December 2014). Sydney experienced a yearly rise of 16.2%, with residential property listings climbing from 20,268 to 23,546. Canberra also experienced excessive yearly growth with sale listings up 14.2% based on a total 3,525 listings. These figures indicate that the number of property sellers in both residential markets has increased.
- Total online national residential listings fell during December 2015 to 343,618.
- This figure represents a monthly fall of 5.2% when compared to November 2015.
- Sydney recorded the largest monthly rise in stock levels, rising by 17.7% during December 2015 to 23,546.
- Hobart recorded the biggest yearly decline, with listings falling by 7.8%, reducing the number of properties for sale to 3,869.
- Sydney median asking prices have risen considerably over the last twelve months, with median asking prices up 7.8% for houses and 11.5% for units.
In contrast, year-on-year results indicate that Hobart and Melbourne experienced excessive yearly falls. Hobart recorded the biggest yearly change, with sale listings falling by 7.8%, reducing the number of properties for sale to 3,869. Melbourne also recorded yearly falls with records indicating a yearly change of 7.2%.
Louis Christopher, said “While the headline may record a decline in listings for December, the truth is there is heavy seasonality this time of year. Therefore the yearly result is a better indicator of the market. And on that front we are recording large rises in Sydney while Melbourne listings are noticeably down.
To me this is yet another indicator of the slow market that Sydney is now experiencing and the contrasting Melbourne market which this information suggests, is firming.”