Decreasing stock leads to property sale listings fall

Property sale listings decreased in all capital cities during the month of August according to figures from investment research house SQM Research.

The fall came as a result of decreasing stock, with August recording just 333,123 listings, a fall of 4.3 percentage points.

Year on year results indicate that national sales listings are down 0.4 per cent compared to August last year.

SQM Sep 7

Hobart recorded the largest decrease for August, with property listings falling 7.0 per cent.

Adelaide followed with a monthly change of 6.4 per cent, based on 15,781 listings. Year-on-year Hobart property listings are down 10.7 per cent.

In contrast, Sydney property listings are up 12.3 per cent.

Falls in listings for August aren’t unusual in the lead-up to the spring selling season. SQM Research expects a bounce back to a rise in listings when it reports on September’s findings.
Median asking prices



Capital city asking prices were largely flat during August, with a minor 0.1 per cent rise for houses and a 0.2 per cent decline for units, signifying that vendors largely aren’t readjusting their asking prices and there’s minimal upward pressure on prices in the current housing market.

Year-on-year results reveal Melbourne median asking prices have risen 14.5 per cent for houses and 5.2 per cent for units, while Hobart has also recorded yearly changes, with median asking prices for units climbing 22.6 percentage points.

Meanwhile, median asking prices for houses in both Darwin and Perth continue to fall, with the median asking price for a house in Darwin sitting at $620,800; 7.8 per cent lower than this time last year.

SQM Research managing director Louis Christopher says: “Our latest indicators on listings and asking prices suggest the national housing market is not displaying any major uplift in activity at this point in time.

“It seems to be a very mixed housing market overall, with the stronger markets being Melbourne and Hobart and the weaker markets being Perth and Darwin.”

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