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National residential property listings fell in January 2022 by 8% to 200,865 from 218,415 in December 2021.
Melbourne and Canberra have recorded the greatest falls in listings of 11.5% and 12.8% over the month of January.
Over the year, property listings are trending downwards nationwide.
Compared to 12 months ago, national listings fell 24.2%, with the biggest falls in Brisbane, Adelaide, Canberra, and Hobart.
Key Points
- National residential property listings fell in January 2022 by 8% to 200,865 from 218,415 in December 2021. Compared to 12 months ago, listings dropped 2%.
- Nationally, new listings (Less than 30 days) fell 27.6% over January 2022, with 49,215 new properties added onto the market. New listings are down 1.8% over the year. Old listings fell 5.9% in January and were down by 52% over the
- Capital city asking house prices fell 0.7% and units fell 0.2% over the four weeks to 1 February
Total Listings
Nationally, new listings (Less than 30 days) fell 27.6% over January 2022 to 49,215 properties on the market and fell 1.8% over the year. New listings fell the most in Canberra by 31.8%, followed by Melbourne by 29.3%.
Over the year, new listings rose the most in Perth by 18.2%, followed by Darwin by 13.8%. In a sign that older stock is clearing, property listings over 180 days dropped by 5.8% in January 2022 and they are down 52% over the year.
Asking Prices
Over the past 30 days to 1 February, 2022, Sydney and Melbourne asking prices fell by 0.6% and 1.2% for houses and 0.7% and 0.4% for units. Brisbane asking prices rose by 0.3% for houses and 0.1% for units.
Perth asking prices fell by 0.3% for houses and 1.1% for units. 
Adelaide asking prices for houses rose by 1.1% and 1.5% for units.
Canberra asking prices for houses fell by 0.3% and rose by 2% for units.
Darwin asking prices for houses fell by 1.2% and 2.1% for units. Hobart asking prices for units rose by 0.6%.
Available properties on the market remain tight.
At just under 201,000 properties available for sale, we are currently having the mildest of slowdowns in the national housing market.
Going forward, we are recording a move towards more auction listings over February with scheduled auctions up by about 15% compared to this time last year.
But we are not anticipating a massive surge in total new listings.
With the prospect of higher inflationary pressures, we believe the risks are moving back towards the upside of a stronger market in the first quarter of 2022.
Upon which APRA will be forced to take further action in the absence of any RBA rate hike.
ALSO READ: Why 2022 is the WORST time to buy property
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