Australia’s real estate agents had more time on their hands last month, with new research showing all capital cities experienced a drop in residential listings during August.
Figures from SQM Research show that nationally the number of listed properties in Australia fell to 333,923 in August, down 4.3% on July’s figures and 3.9% from the same time last year.
Louis Christopher, head of SQM Research said the monthly drop in listing was not a huge surprise given a higher than usual surge of listings during June.
According to the SQM figures, Brisbane had the largest decrease in listing over August, with a fall of 6.4%, followed by
Perth and Hobart with identical decreases of 6.2%.
Melbourne and
Adelaide experienced the next biggest decreases, with listings falling in each city by 4.6% and 4.3% respectively.
Canberra (3.9%), Sydney (2.7%) and
Darwin (2.4%) all experienced decreases below the national average rate for August.
While the monthly fall in listings was relatively consistent over August, yearly figures paint a different story over the past 12 months.
Over the past year, Darwin and Perth have been the two major outliers, with the two cities seeing listing increase by 21.1% and 10%.
Adelaide is the only other city where listings have risen over the past 12 months, up 2.2%.
The largest decreases over the year were in Melbourne (20%) and Hobart (12.6%).
Sydney recorded a yearly decrease of 3.8%.
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