- Australian property listings have risen over the past year, reflecting increased supply in Sydney and Melbourne.
- In all other capital city markets aside from Canberra, total listings have fallen over the past 12 months.
- New data from CoreLogic reveals the Australian suburbs where listings have increased the most over the past 12 months, and where they’ve fallen the most.
Australian property listings have risen over the past year, reflecting increased supply in Sydney and Melbourne, the nation’s largest housing markets.
In all other capital city markets aside from Canberra, total listings have fallen over the past 12 months.
Reflecting those supply shifts, prices have been falling in the southeastern mainland capitals, but rising in some smaller markets.
These next two tables from CoreLogic look at the annual change in property listings in more granular detail.
The first shows the top five suburbs in every Australian state and territory where the number of listings have risen over the past year. The list includes only those suburbs that have had more than 50 property listings in both periods.
In all of the states except for New South Wales, regional towns and cities dominate, accounting for 25 of the 40 suburbs on the list.
Cameron Kusher, research analyst at CoreLogic, says the prevalence of mining centres suggests vendors may be more willing to sell as conditions level out or that more distressed assets are hitting the market.
Underlining just how hot the Tasmanian property market has been over the past 12 months, only one suburb — Moonah — saw listings increase over the year.
The next table looks at the other end of the spectrum, showing the top five suburbs in every Australian state and territory where listings have fallen the fastest over the past year.
25 of the 40 are located in cities, with the remaining in regional areas.
Looking forward, and from a broader perspective, Kusher says recent trends in both listings and prices are likely to be maintained for some time to come.
“As the housing market is slowing, the number of properties for sale is climbing in Sydney and Melbourne, providing for less urgency among buyers to negotiate,” he says.
“As stock levels rise, buyers become more empowered and vendors may need to rethink their pricing expectations and marketing strategies.”
In other markets, Kusher says “stock levels are tightening”, adding that he expects those trends will continue.
If that does play out, the divergence between price movements in Sydney and Melbourne compared to other parts of the country could well get larger in the period ahead.