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Property listings across all of Australia’s capital cities, barring Perth, have been impacted by the usual annual holiday hiatus, new research has revealed.
Data from SQM Research showed national residential property listings declined to 265,111 properties in January — a 2.9 per cent decrease from December’s total of 272,999 listings. Compared to January last year, total listings were also down by 10.5 per cent.
Weighing in on the findings, SQM Research managing director Louis Christopher flagged that the month of January traditionally records falls in properties listed for sale as the market is still in a summer holiday mode.
“This year was no exception,” Mr Christopher noted.
On the city level, all capitals experienced a decrease in total listings over the month, except for Perth which saw a 0.1 of a percentage point increase.
Sydney, Brisbane and Melbourne recorded the highest declines of 4.7 per cent, 3.5 per cent and 3.4 per cent, respectively.
Meanwhile, Canberra (-2.9 per cent), Darwin (-2.1 per cent), Hobart (-1.2 per cent) and Adelaide (-0.1 of a percentage point) saw more subdued declines.
Looking at annual data, only Sydney and Melbourne saw increases in stocks at 4.5 per cent and 21.1 per cent, respectively.
New listings also decline
New listings also decreased nationally by 24.46 per cent over January, with 16,234 fewer new properties listed for sale in the market.
However, looking at year-on-year data, new listings recorded a slight increase of 4.3 per cent, with most capital cities following the upward trend, except for Sydney and Hobart.
“This finding is consistent with the observed early start to the auction market over January and February,” Mr Christopher said.
As of January, Melbourne has the most stock available on market at 37,617 properties, followed by Brisbane with 25,720 and Sydney with 25,149.
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