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CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Tuesday, 1 March 2016

SQM listings up

Listings rise

SQM Research recorded a surge in listings in February - which is normal for this time of year - but with some captial cities seeing larger rises than others, indicating slower selling times in some cases.

Having experienced an exceptionally tight market at times and rapid dwelling price growth in 2015, Sydney is now coming back towards a market in equilibrium with a total 25,698 listings, well up from only 21,769 this time last year (+18 per cent).

Darwin listings are also up +12 per cent over the year to February 2016, with asking prices for houses now sliding in the Top End capital, being down by -5 per cent over the year. 

Melbourne still has many more listings than Sydney at 36,406, but this figure is down by -5.6 from last year, indicating a steadily tightening market.

The other market which has been tightening is Hobart with total listings in the Tasmanian capital down by -6.8 per cent over the year to February to 3,897.

Looking at the change in listings from last year, Brisbane has also tightened slightly, although Brisbane is a bit of a two-speed market, with some suburbs performing very well and others areas oversupplied with new apartments. 

Asking prices for Sydney houses (+10 per cent) and units (+10.3 oer cent) remain up strongly over the year to February, while asking prices for houses in Melbourne (+13 per cent) and Brisbane (+6.5 per cent) also performed strongly.

You can find the SQM Research media releases and associated market commentary here.