• National residential property listings decreased in January 2021 by 2.9%, falling from 272,999 in December 2020 to 265,116. Compared to 12 months ago, listings were down by 10.5%.
• All capital cities experienced decreases in property listings over the month except for Perth which had a 0.1% increase in listings.
• Nationally New listings decreased 24.46% in January with 16,234 less new properties listed for sale in the market. New listings were up year on year by 4.3%. Most cities except Sydney and Hobart recording year on year rises.
• On a 12-month comparison, listings were substantially up in Melbourne (21.1%).
• Capital City asking prices declined by 0.7% for houses but increased 0.2% for units, over the month to 2 February 2021. Unit asking prices are now at $565,600 and houses $996,800.
• Compared to a year ago, the capital city asking prices posted increases of 2.0% for houses and a decline of 2.1% for units.

Figures released yesterday by SQM Research reveal national residential property listings decreased in January 2021 by 2.9%, falling from 272,999 in December 2020 to 265,116. Compared to 12 months ago, listings were down by 10.5%.

All capital cities experienced decreases in property listings over the month except for Perth which had a 0.1% increase in listings.  The largest decrease was in Melbourne of 4.7%.

Year-on-year listings also show larger declines for most capital cities with the exception of Sydney and Melbourne, both recording increases of 4.5% and 21.1%, respectively.

New listings (30 days)

Nationally, new listings (30 days) decreased by a 24.46% over the course of January with 16,234 less properties on the market. Hobart’s new listings decreased by a significant 33.28%, followed by Canberra which decreased by 26.10%.  Sydney recorded the lowest decrease in new listings of 2.42%.

Commentary

Louis Christopher, Managing Director of SQM Research said, “The month of January traditionally records falls in properties listed for sale as the market is still in a summer holiday mode. This year was no exception. However, when we consider the number of new listings compared to January 2020, there was a material rise in nearly all cities. This finding is consistent with the observed early start to the auction market over January and February.”

Asking prices

Capital City asking prices declined by 0.7% for houses but increased 0.2% for units, over the month to 2 February 2021. The new year commenced with unit asking prices at $565,600 and houses $996,800.

Compared to a year ago, the capital city asking prices posted increases of 2.0% for houses but a decline of 2.1% for units.

Over the month, Melbourne and Canberra were the only capital cities to record decreases in both house and unit prices – 0.4% and 0.2% respectively for Melbourne and 0.2% and 0.7% for Canberra house and unit prices.

Perth, Adelaide and Darwin all recorded increases in both house and unit prices over the month to 2 February 2021.

Sydney recorded a decline in house prices of 1.7% but an increase in unit prices of 0.2%.  Brisbane also recorded decline of 0.3% in house prices and an increase of 0.6% in unit prices. Hobart recorded an increase of 0.6% in house prices and decline of 0.5% in unit prices.

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