Pete Wargent blogspot

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

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Monday, 7 December 2015

Listings slight decline in November

Listings tick down

SQM Research found that listings fell slightly by 0.4 per cent in November, with monthly falls being seen in Sydney, Brisbane and Perth.

This is fairly unusual to see as the spring selling season typically reaches its peak, although the decline did follow on from a surge in October. 

Over the past year listings are up in Sydney (+11.8 per cent) and Darwin (+11.4 per cent).

On the other hand Melbourne (-7.0 per cent) and Hobart (-9.1 per cent) listings have declined sharply over the year.  

Despite the increased vendor activity in Sydney over the past 12 months, the harbour city still only had 28,597 listings as at November 2015 compared to more than 44,000 in Melbourne.

A market slowdown is to be expected in Sydney given that house prices have increased by +59.4 per cent since July 2012, or nearly $400,000.

The Brisbane market is more likely to offer value for money in 2016.