Excessive yearly falls in sales listings
2015-07-08
The number of Australian residential property sale listings fell in all capital cities during the month of June, according to SQM Research, with falls in Sydney and Melbourne larger than expected for this time of year.
Nationally, the number of listed properties fell to 335,971 in June 2015, falling 6.5 per cent from May 2015, with the number of listings down 3.2 per cent from a year earlier.
Once again Sydney and Melbourne recorded the heaviest monthly change, as a result bringing the national average down.
Year-on-year results indicate that Melbourne, Sydney and to a lesser extent Hobart, experienced excessive yearly falls.
Melbourne recorded the biggest yearly change, with listings falling by 20.2 per cent, reducing the number of properties for sale to 34,498. Sydney soon followed with listings down 15.7 per cent from this time last year. Hobart recorded a yearly change of 8.4 per cent.
Managing director of SQM Research Louis Christopher says: “While the national result is only down marginally from levels recorded this time last year, the Sydney and Melbourne result clearly reveals the ongoing boom in these two cities.
“We have not seen Sydney with so few listings and Melbourne’s stock is now being quickly absorbed. Potential vendors in these two cities are holding back on selling their property in the hope (and fear) that the market is going to rise from here.
“And with this type of squeeze on the market, prices will indeed most likely rise from here.”
SQM Research figures show that asking prices for Sydney houses continued to climb over June, with a total monthly rise of 2.8 per cent. The median asking price for a house has now reached $1,120,700 while the median unit in Sydney dropped over June and is now advertised at $615,400.
In contrast, median asking house prices in Darwin continue to fall with year-on-year comparison showing a 12-month decline of 2.4 per cent for houses and 8.4 per cent for units. Perth also recorded yearly falls, with asking prices for houses down 3.6 per cent and 1.0 per cent for units.
Source：Australian Property Investor
Nationally, the number of listed properties fell to 335,971 in June 2015, falling 6.5 per cent from May 2015, with the number of listings down 3.2 per cent from a year earlier.
Once again Sydney and Melbourne recorded the heaviest monthly change, as a result bringing the national average down.
Year-on-year results indicate that Melbourne, Sydney and to a lesser extent Hobart, experienced excessive yearly falls.
Managing director of SQM Research Louis Christopher says: “While the national result is only down marginally from levels recorded this time last year, the Sydney and Melbourne result clearly reveals the ongoing boom in these two cities.
“We have not seen Sydney with so few listings and Melbourne’s stock is now being quickly absorbed. Potential vendors in these two cities are holding back on selling their property in the hope (and fear) that the market is going to rise from here.
“And with this type of squeeze on the market, prices will indeed most likely rise from here.”
SQM Research figures show that asking prices for Sydney houses continued to climb over June, with a total monthly rise of 2.8 per cent. The median asking price for a house has now reached $1,120,700 while the median unit in Sydney dropped over June and is now advertised at $615,400.
In contrast, median asking house prices in Darwin continue to fall with year-on-year comparison showing a 12-month decline of 2.4 per cent for houses and 8.4 per cent for units. Perth also recorded yearly falls, with asking prices for houses down 3.6 per cent and 1.0 per cent for units.
Source：Australian Property Investor
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