National residential property listings fell in December 2021 by 6.5% to 218,415 from 233,716 in November.
Compared to 12 months ago, listings dropped 20%.
Nationally, new listings (Less than 30 days) fell 29.5% over December, with 67,972 new properties added onto the market.
- New listings are up 2.4% over the year.
- Old listings fell 6.8% in December and were down by 49.5% over the year.
Sydney, Melbourne, and Canberra have recorded the greatest falls in listings of 15.8%, 12.9%, and 15.9% over the month of December.
Over the year, property listings are trending downwards nationwide.
Compared to 12 months ago, national listings fell 20%, with the biggest falls in Brisbane, Adelaide, Canberra, and Hobart.
Capital city asking house prices rose 1.9% and units fell 0.2% over the four weeks to 4 January 2022.
Nationally, new listings (Less than 30 days) fell 29.5% over December 2021 to 67,972 properties on the market, though they rose 2.4% over the year.
New listings fell the most in Sydney by 47.4%.
Over the year, new listings rose the most in Darwin by 26.2%, followed by Sydney and Perth and by 17.6% and 15.5%.
In a sign that older stock is clearing, property listings over 180 days dropped by 6.8% in December 2021 and they are down 49.5% over the year.
- Over the past 30 days to 4 January 2022, Sydney asking prices rose by 1.1% for houses and 0.4% for units.
- Melbourne asking prices rose by 3% for houses and fell by 1% for units.
- Brisbane asking prices rose by 4.2% for houses and 2.6% for units.
- Perth asking prices rose by 0.1% for houses and 1.2% for units.
- Adelaide asking prices for houses rose by 4.3% fell by 0.5% for units.
- Canberra asking prices for houses rose by 8.4% and 5% for units.
- Darwin asking prices for houses rose by 1.7% and units fell by 1.1%.
- Hobart asking prices for units fell by 0.4%.
While there was a significant surge in auction activity over December, total listings were down on a month by month and a year-by-year comparison.
Sydney did record a surge in new listings when we take out the seasonality and compare against December 2020.
Overall, there remains a shortage of listings at the national level.
As a result, vendors are in no panic at this point.
Indeed, they lifted their asking prices for the month.
Unless we have a surge in listings for the start of the property season in February it is looking like a very soft landing for the housing market in 2022.