Capital cities drive new property listings

New figures from CoreLogic show that while real estate activity is going great guns in Australia’s capital cities, less activity is being recorded in our regional areas in a year-on-year basis.

Looking at the latest property listing stats, CoreLogic found that more properties were listed last month than at the same time 12 months ago, though the total number of listed properties (including re-listings) was smaller than last year.

However, by comparing the combined capital city figures to Australia’s national totals, it appears that most of the new listings are being recorded in capital city markets, while falls in stock across regional housing markets appears to be exacerbating the fall in Australia’s total listings.

Looking at trends across Australia’s individual capitals:

• Sydney’s advertised stock levels are now higher than they have been over the previous three years, providing buyers with more choice and potentially less urgency in their decision making.
• Melbourne’s new and total listings are higher than they were last year, but also lower than in 2015.
• Brisbane’s new listings are at their lowest level since 2013, however the total listings are higher than the previous three years.
• Adelaide’s total listings for July are at their highest level since this time of year in 2013.
• Perth saw its lowset number of new listings for this time of year since 2012, and while there were also fewer total listings than at this time last year, there were more than at this time any other year going back to 2012.
• Hobart saw more new listings than this time last year, but fewer than the number recorded in the years between 2012 and 2015. The drop in total Hobart listings is in line with an overall decline recorded each year since 2012.
• Darwin’s new listings were higher than last year, but lower than the previous four years at this time. The number of total listings is not only higher than last year, but much higher than the previous years, up a massive 62.9% on July 2012.
• Canberra’s new listings are higher this July than at this time any other year since 2012. But while Canberra’s total listings are higher than a year ago, they’re lower than what was recorded t this time each year from 2012 to 2015.

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