Total Property Listings Increased in July
- Haynes Wileman
- Aug 6, 2020
- 1 min read
National residential property listings increased in July by 3.8% from 301,140 listings in June 2020 to 312,680. Compared to 12 months ago, listings were down by 1.2%.
Nearly all capital cities experienced increases in property listings over the month except for Darwin which recorded a 1.4% decrease.
The largest listings increase was in Sydney at 8.7% followed by Canberra with 6.4%.
Melbourne and Brisbane both recorded a 5.9% increase.
Adelaide and Perth experienced smaller increases of 2.4% and 3.2% respectively.
Year-on-year listings show more significant increases in Sydney and Melbourne at 10.7% and 20.7% respectively.
All other capital cities recorded declines over the 12 months.
Darwin especially recorded high declines of 21.4% and Hobart declined by 10.0%.
City July 2019Total June 2020Total July 2020Total Monthly change% Yearly change% Sydney 29,055 29,590 32,165 8.7% 10.7%
It is somewhat abnormal to record a rise in listings during the winter months. Normally, falls are recorded.
This could have been generated by the lifting in restrictions over May and June, enticing sellers to the market.
The year on year results for Sydney and Melbourne tell the story with significant rises, particularly for Melbourne.
Such a reading normally is associated with a weakening market and no question, this is what is occurring in our two largest cities. Dwelling prices are falling.
Not crashing to date, per se.
But in light of the unprecedented restrictions placed in Melbourne, our expectations are that more prices falls in can be expected in coming months.
Outside the two capital cities, the market is more balanced and indeed we are seeing an increase in demand for housing across regional Australia.”
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