- New listing numbers rose above the five year average.
- Total listing numbers fell, despite uptick in new listings.
- Capital cities outperformed the regions.
This year’s new listings rates have bucked the decade-long trend, with the latest CoreLogic Property Pulse finding that through the winter season to-date, new listings have risen by 13.2% this year.
According to CoreLogic, the pre-Covid decade average of new listings added to the national housing market drops between autumn and winter by 5.2%. This is followed by a rise of 9.8% between winter and spring.
However, this winter recorded a double-digit percentage rise, primarily driven by the capital cities (+17.9%), with regional Australia recording a milder 4.6% rise in new listings.
New listings numbers also recently outperformed the previous five-year average. In the four weeks ending 13 August, new listings to the Australian housing market were 3.3% above the aforementioned average; this is the first time the new listings figure has risen above the five-year benchmark since September last year.
National listing numbers
|
|
Flow of new listings |
Stock of total listings |
||||
| New listings | Compared with last year | Compared with previous five-year average | Total listings | Compared with last year |
Compared with previous five-year average |
|
|
Sydney |
6,870 | 10.9% | 22.6% | 20,255 | -14.7% |
-7.2% |
|
Melbourne |
7,282 | 9.7% | 25.5% | 25,519 | -8.1% | 1.9% |
|
Brisbane |
3,673 | -9.7% | -5.7% | 11,540 | -23.0% | -40.1% |
|
Adelaide |
1,488 | -10.2% | -0.6% | 3,903 | -24.1% | -41.8% |
|
Perth |
3,285 | -8.8% | -1.9% | 10,316 | -32.8% | -44.9% |
|
Hobart |
279 | -2.4% | -3.7% | 1,264 | 22.1% | 35.1% |
|
Darwin |
163 | -36.3% | -7.0% | 1,090 | -8.2% |
-6.8% |
| Canberra | 634 | 2.4% | 11.0% | 1,991 | 1.2% |
-1.4% |
| Combined capital cities | 23,674 | 1.5% | 11.8% | 75,878 | -16.8% |
-20.7% |
| Combined regionals | 11,553 | -11.7% | -10.5% | 57,177 | -6.6% |
-31.3% |
| National | 35,227 | -3.2% | 3.3% | 133,055 | -12.7% |
-25.7% |
Source: CoreLogic.
Total listings numbers remain down
Despite the recorded rise in new listings, total listings shrank by 3.5% since the beginning of winter.
Advertised stock levels over the past four weeks rose 0.3%, with total listings across the capitals rising 2.2%; the capital city rise was offset by a fall across the regions. The month-on-month rise was led by Syndey (5.3%), Melbourne (4.4%) and Canberra (4.3%).
Hobart and Canberra were the only capital cities that had more advertised stock than last year, 22.1% and 1.2% respectively. Hobart and Melbourne were up 35.1% and 1.9%, respectively, on the previous five-year average.
Largest rise in total listings relative to previous five-year average (by SA3)
Tight markets remain
Total listings for smaller capitals, including Perth, Adelaide, and Brisbane, were all below the previous five-year average. Specifically, Perth was 44.9% below the prior half decade average, Adelaide 41.8%, and Brisbane 40.1%.
Consequently, value growth has accelerated, with CoreLogic’s daily index recording rises over the past four weeks of 1.2% for Perth, 1.4% for Brisbane, and 1.5% for Adelaide.
Largest drop in total listings relative to previous five year average (by SA3)
