After reaching a record high in October
, residential property listings in Australia took a step backward in November according to monthly figures from SQM Research.
Released yesterday, the figures show listings fell to 362,560 over November, a 0.3% decline from the October high of 363,653.
November was a mixed month across the individual capital cities, with an even split across in the number of cities who saw listing increase or decrease.
led the way in increases with a 2.8% increase over the month, followed by Melbourne where listings rose 2.7%.
In Canberra, listings jumped 2.5%, while Hobart registered a slight increase of 0.1%.
saw the largest decrease over November, with listings falling 3.4%. Sydney’s 0.8% decline was the next largest.
Listings in Perth
and Brisbane both fell by 0.4%.
Despite their monthly falls in November, Darwin and Sydney both still lead the way in terms of annual increases. The two cities saw listings rise by 11.4% and 11.8% respectively in the year to November.
Over the 12-month period, Perth has experienced the next most notable increase, with listings up 6.6%.
On the other side of the coin, Melbourne and Hobart’s monthly falls have mean their listings have fallen 7% and 9.1% respectively over the year.
The closest decrease to those two cities is Adelaide, where listings have fallen 4% over the year.
Source: SQM Research
Louis Christopher, head of SQM Research, said the November figures were somewhat of a surprise and reveal Australia’s real estate market is experiencing mixed conditions.
“It is a little abnormal to record falls in listings during November as the annual spring selling season reaches a peak during this month,” Christopher said.
“Nevertheless we were expecting a pullback of sorts due to the massive surge in listings recorded in October. Overall I think it is a mixed property market and nothing released today has changed my view on this,” he said.
Do you have more than $120k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
st kilda west
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out