Relative to last year, total listings across both the combined capital cities and at a national level are similar, with the combined capital city total stock available for sale virtually level with last year at a nominal 0.5 per cent higher, while nationally, stock levels are -1.3 per cent lower. At an aggregate level, the number of new listings added to the market over the past four weeks is higher compared to last year; however this isn’t standard across all regions and is mainly being driven by strong housing markets in Sydney and Melbourne.
Historically, at the end of August, new listings begin to increase and based on activity over the past two weeks, this year is no exception. Generally, new listings then continue to ramp up throughout September, peaking in November prior to the end of year slow down.
On a city by city basis, the total listings stock this year compared to last year is higher in just two cities, Perth (19,191 vs 16,278 last year) and Darwin (1,569 vs 1,361 last year). On the other hand, the number of residential properties available for sale across all other capital cities is lower than one year ago, by as much as -11.2 per cent in Hobart and as little as -0.5 per cent across Sydney.
Nationally, there are currently 232,000 residential properties available for sale, with 41,864 added to the stock pool over the past four weeks. Over the same period one year ago, there were close to 3,000 additional properties available for sale. In terms of newly advertised listings, the ACT, NSW, Vic and Qld are all recording a higher number of newly advertised listings over the most recent four week period when compared to one year ago. In all other states and territories there are fewer new listings being added to the market than one year ago.