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Tuesday, 5 October 2021

Property listings decline in September

Listings tight

Not much chance of the property market cooling this year, with stock levels still 26 per cent lower than a year earlier, according to SQM Research, despite new listings now rebounding. 

There was a small increase in total listings in 5 of the 8 capital cities in the month, but over the year the market has tightened. 

There were big declines in Brisbane and Canberra, however, denoting boomtime conditions in those markets. 

Listings in those two cities were down 32 per cent and 41 per cent over the year, respectively. 

Around the cities, there is a decent number of listings in Melbourne (and possibly now Darwin) to choose from, but no so much everywhere else. 

Aged listings of over 180 days are clearing down, to the extent that older stock is down 54 per cent from a year earlier, according to SQM. 

SQM does expect listings to rise from here as lockdown restrictions are eased.