- Australia's MoM growth was 3.1% for July 2023.
- It is unseasonable for the typically slower winter months.
- Regional NT recorded the highest new listings YoY growth of 47.6%.
New listings for July made an atypical rise, but the uptick amounted to naught compared to the same time last year; new listings activity was lower by 10.5%, according to the Ray White July 2023 Listing Report.
Total listings for July 2023 are also down on the same time last year by 3%.
New listings are up on last month
The month-on-month (MoM) growth of new listings for the combined capital cities was 5%, but down 7.8% for year-on-year (YoY) growth, according to Ray White.
Hobart and Adelaide recorded the highest levels of MoM growth for new listings across the capitals, with 12.4% and 11.6% respectively. Sydney on the other hand was the only Australian capital city with positive YoY growth for new listings, up 1.1%.
Number of new listings
New listing results across the regions were mixed but were down 0.4% on the whole. Regional South Australia, Tasmania, Western Australia, and New South Wales all recorded positive results, while the remainder saw numbers in the red.
Total listings also in positive territory
Monthly growth for total listings across the capital cities was between -2.3% and 5.6%. This translated to a 1.5% lift in total listings across the capitals, for the month, however there was a YoY fall of 12.1%.
Listing movements in Australia for July 2023
Top performers generally scattered
The Sydney suburbs that recorded large YoY new listings growth were scattered across the metro area. The top five comprised three suburbs that were still what most would consider to truly be Sydney: Werrington (+200%), Mona Vale (+200%) and Revesby (+175%), while the remainder were in far-flung locations such as Werrington, Gwandalan, and Catherine Field.
Melbourne’s top performers were similarly scattered, with the top five comprising Bonnie Brook (+192%), Skye (+156%), Essendon North (+150%), Heidelberg West (+150%), and St Kilda East (+140%).
Most other capitals also saw top performing suburbs scattered across the metropolitan area, bar one.
Top Perth performers were generally close to either the beach or river, including City Beach (+150%), Connolly (+125%), South Guilford (+111%), Burns Beach (100%), and Bibra Lake (83%).
