- SQM data reveals some recovery in the stock on the market in Australia over the first months of 2023
- Research from Openn identified suburbs in Australia with the most significant decreases in listing numbers
- Rockey Point in Queensland is the suburb with the largest decline in property stock with a 76% drop in listings over the first three months of the year
New research from Openn, an online platform for property sales, revealed suburbs in Australia that have seen the most significant decreases in listing numbers since the new year.
Although SQM Research data reveals some recovery in the stock on the market in Australia over the first months of 2023, listings still remain tight compared to long-term trends.
National property stock
After over a year of unpredictability, Openn’s Managing Director, Peter Gibbons, stressed that this study underscores specific suburbs that present expanded possibilities for sellers and novel difficulties for agents.
“Listings are currently increasing in the majority of Australian suburbs, yet a select few are experiencing declines.”
Rockey Point in Queensland is the suburb with the largest decline in property stock with a 76% drop in listings over the first three months of the year. Mount Pleasant in Queensland and Newtown in Victoria follow with a 49% and 47% drop respectively.
“For sellers in these areas, the lower listing volumes can foster a more competitive atmosphere among buyers, which typically translates to improved sales outcomes.”
“Meanwhile, in a competitive listing environment, real estate agents need to be more innovative in finding a point of difference, utilising new marketing strategies and technology to generate listings.”
Top 20 National Listing Drops
| # | STATE | SUBURB | AV. CHANGE | JAN | FEB | MAR |
| 1 | QLD | Rocky Point 4873 | -76% | 31 | 12 | 1 |
| 2 | QLD | Mount Pleasant 4521 | -49% | 24 | 18 | 5 |
| 3 | VIC | Newtown 3220 | -47% | 48 | 43 | 7 |
| 4 | NSW | Carrington 2294 | -47% | 13 | 10 | 3 |
| 5 | QLD | Richmond 4740 | -46% | 19 | 17 | 3 |
| 6 | ACT | Richardson 2905 | -36% | 10 | 7 | 4 |
| 7 | NSW | Abermain 2326 | 0% | 10 | 8 | 4 |
| 8 | QLD | Thuringowa Central 4817 | -31% | 15 | 12 | 7 |
| 9 | NSW | Kanwal 2259 | -29% | 14 | 10 | 7 |
| 10 | WA | Leda 6170 | -29% | 10 | 7 | 5 |
| 11 | NSW | Balcolyn 2264 | -29% | 12 | 8 | 6 |
| 12 | QLD | Nikenbah 4655 | -29% | 42 | 27 | 21 |
| 13 | NSW | Raby 2566 | -29% | 10 | 8 | 5 |
| 14 | WA | Gidgegannup 6083 | -28% | 12 | 10 | 6 |
| 15 | NSW | Wyongah 2259 | -28% | 10 | 6 | 5 |
| 16 | QLD | Witta 4552 | -27% | 12 | 11 | 6 |
| 17 | QLD | Oakhurst 4650 | -27% | 15 | 10 | 8 |
| 18 | QLD | Kanimbla 4870 | -27% | 13 | 10 | 7 |
| 19 | NSW | Hebersham 2770 | -26% | 13 | 9 | 7 |
| 20 | WA | Meadow Springs 6210 | -26% | 41 | 34 | 22 |
The 20 suburbs with the largest average decline in listings are spread across several states, with 8 located in Queensland (QLD), 7 in New South Wales (NSW), 3 in Western Australia (WA), 1 in Victoria (VIC), and 1 in the Australian Capital Territory (ACT).
