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.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
- Ireland shows how to successfully wean off property - July 28, 2021
- Links 28 July 2021 - July 28, 2021
- HIA dances on negative gearing’s grave - July 27, 2021
YOU MAY ALSO BE INTERESTED IN
HIA dances on negative gearing's grave
The Housing Industry Association (HIA) has issued
CoreLogic: Busiest auction market since 2017
CoreLogic has released its Quarterly Auction
Foreign property buyers have forgotten Australia
NAB's Q2 2021 survey of residential property
RBA paves way for macroprudential mortgage curbs
In mid-June, RBA Governor Phil Lowe stated that