Pete Wargent blogspot

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

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Wednesday, 5 October 2016

Spring

Selling season attracts vendors

Listings sneaked back up in all capital cities in September as spring selling season arrived and attracted vendors, according to SQM Research.

Since a year ago, only one capital city has shown a tightening in the number of listings, being Hobart in Tassie, where the total listings are down by nearly 10 per cent from one year ago.

SQM's head honcho Louis R. L. Christopher called out "modest price rises" in Hobart as a result of this tightening, with median asking prices for houses up by +6.1 per cent over the year to September.

At the other end of the spectrum Sydney total listings of 27,103 were 13 per cent higher than one year ago, although for a city of its size total listings still aren't particularly high, and remain well below where they were before the up-cycle began to hit its straps. 

Glancing around the traps, year-on-year listings were also up in every other capital city.

At 37,313 Melbourne remains the king of total listings, although to date this has had little noticeable adverse impact on prices. 


Performance

In terms of median asking rents, apartment asking prices were up over the year in both Sydney (+4.2 per cent) and Melbourne (+4.8 per cent).

The best performing property types on this index were houses in Melbourne (with a thumping +15.1 per cent), and the weakest performers were houses in Darwin (-6.9 per cent).

Nationally asking prices increased over the year for houses (+4.6 per cent) and units (+2.8 per cent).