Pete Wargent blogspot

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

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Tuesday, 6 September 2016

Listings decline across the board

Listings down

SQM Research reported that listing numbers declined across every capital city in August, and August listings nationally down by 4.3 per cent from the prior year. 

This is not unusual for August according to SQM, so we may see a rebound in September. 

Over the past year Hobart has been the one significantly tightening market with listings down by 7 per cent in August to be 10.7 per cent lower than one year ago. 

Darwin listings seem to have stabilised, while this was a better result for Perth, though median asking prices are lower than one year ago in both of these resources capital cities. 

In Sydney total listings are 12.3 per cent higher than one year ago.

According to SQM's Managing Director, Sydney's inner ring has seen record year-on-year declines in listings, but outer suburban and older stock is not shifting leading to the annual increase in total listings. 

There has been much talk of an apartment corrections in the largest capital, but to date median asking prices are higher over the year in both Sydney (+5.2 per cent) and Melbourne (+5.2 per cent).