Sydney and Melbourne property listings surge

Property listings rose strongly in Sydney and Melbourne in December when compared to December 2019, according to new figures from SQM Research:

Listings in Melbourne were up over 30.5% year-on-year while Sydney listings rose 13.8%.

However, year-on-year listings across the rest of the nation were all down.

Newer listings, in particular, have increased across Sydney and Melbourne compared to December 2019, whereas the opposite is the case across the rest of Australia:

According to SQM Managing Director, Louis Christopher:

“The month of December traditionally records falls in properties listed for sale as it is the start of the festive and summer holiday period. However, activity was strong all the way through to the last weekend before Christmas which was unusual and likely reflected a degree of catch up from the property inspection restrictions earlier in the year. Going forward I believe listings activity is going to remain strong in early 2021 but could weaken on the wind up of Job Keeper in March 2021. We believe Job Keeper has provided support to the market over 2020.”

This data suggests that the ‘selling season’ will start earlier than usual in 2021.

Unconventional Economist

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