• National residential property listings rose in November by 2.4% to 241,701 from 236,056 in October.
• Nationally, new listings (Less than 30 days) rose 2.5% over November, with 76,553 new properties added onto the market.
• Listings greater than 180 days old fell by 3.9% to over 56,904 dwellings.
• National combined dwelling asking prices rose 0.6% over the month.
• Distressed property listings fell by 2.2% over the month of November.

Figures released by SQM Research reveal national residential property listings fell over November by 2.4% to 241,701 properties, from 236,716 recorded in October.

The largest monthly increases in property listings were in Hobart, Adelaide, Canberra and Melbourne of 9%, 5.7%, 3.9% and 2.7%. However, Hobart and Brisbane property listings rose by 75.3% and 9% for the year. Canberra property listings remained steady at 10.7% for the year.

Nationally, new listings (Less than 30 days) rose 2.5% over November 2022 to 76,553 properties on the market. Hobart, Darwin, Adelaide and Perth recorded the largest increase in new listings for the month, up by 12.6%, 11.6%, 9.8% and 6.4%. Over the year, new listings fell the most in Sydney and Melbourne by 32.7% and 32.1%.

Property listings over 180 days rose by 3.9% in November 2022 and rose by 3% over the year. However, Hobart, Sydney and Melbourne recorded a significant increase of 131.9%, 40.1% and 28.3% for the past 12 months, while Adelaide recorded a significant decrease of 17.7% for the year.

Louis Christopher, Managing Director of SQM Research said: “Listings are only 3.4% higher than 12 months ago, which is a small increase given the housing downturn. This is somewhat masked by the fact we had a massive surge in property for sale on the end of lockdowns and other travel restrictions in 2021.However the marginal rise in old listings confirms this downturn is not severe. One of the key reasons why I was not more negative for the outlook on housing for 2023 was because stock listings have remained relatively stable. There is nothing in today’s numbers which change my mind on that.”

Distressed Listings stabilise As part of today’s release SQM Research notes that as of 5 December 2022, there were 6,549 residential properties nationwide selling under distressed conditions. This has fallen from 6,697 distressed listings recorded in October 2022. The fall in distressed selling activity was driven largely by ACT (up 10%), NT (up 8.8%) and SA (up 6.3%).

Asking prices

Over the month to 5 December 2022, national asking prices rose by 1.3% for combined dwellings. Capital city asking prices fell by 0.1% over the month to 5 December 2022 for combined dwellings.

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