Properties for sale surge in spring

CoreLogic’s latest chart pack showed that total for sale listings at the end of September were tracking 27.4% below the five year average:

This came as national sales volumes were tracking 25.5% above the five year average:

New listings data from PropTrack suggests that listings volumes are experiencing a spring bounce, which should ease some of the supply tightness.

Specifically, new listings across Australia surged 22.5% month-on-month in September, driven by increases in Melbourne and Canberra.

The growth in Melbourne listings coincided with the return of in-person property inspections, from mid-September:

As shown below, annual new listings have risen across all markets other than ACT and Regional NSW:

That said, overall listings remain tight from a historical perspective:

Total listings have fallen heavily across all markets over the past year, with the exception of Melbourne and Darwin:

Thus, it remains an extremely tight market despite the latest boost in listings.

Unconventional Economist
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