Total property listings fall in June


key takeaways

Key takeaways

National residential property listings fell in June 2022 by 1% to 221,572 from 223,859 in May.

Compared to 12 months ago, listings dropped 6.2%.

Nationally, new listings (Less than 30 days) fell 5.4% over June, with 70,885 new properties added to the market. New listings are down 2.1% over the year. Old listings rose 1.6% in June and were down by 31.1% over the year.

National combined dwelling asking prices rose 0.3% over the month, however capital city asking prices fell 1.9% over the same period.

Distressed property listings rose by 4.5% over the month of June.

How did Australia’s property listings perform last month?

Well..the latest figures released today by SQM Research reveal national residential property listings fell in June 2022 by 1% to 221,571 properties, down from 223,859 in May.

The largest monthly falls in property listings were in Adelaide, Perth and Melbourne at 3.9%, 2.1% and 3.7%.

Compared to 12 months ago, listings fell by 6.2%, with large declines recorded in Brisbane, Adelaide and Canberra of 17.5%, 20.6% and 8.3% respectively.

Total listings

Total Property Listings 04 July

Nationally, new listings (Less than 30 days) fell 2.1% over June 2022 to 70,885 properties on the market, to be down 2.1% over the year.

Melbourne, Sydney, Adelaide and Perth recorded the largest falls in new listings for the month, down by 14.4%, 9.4%, 8.4% and 7.5%.

Over the year, new listings rose the most in Hobart by 38.5% and fell the most in Canberra and Sydney by 14.9% and 13.9%.

Property listings over 180 days rose by 1.6% in June 2022.

However, Canberra recorded a significant increase of 14.6%.

While Darwin, Hobart and Adelaide recorded a decrease of 19.6%, 10.3% and 10%.

New And Old Listings 04 July

Overall stock on market fell for the month largely due to the decline in new listings.

The fall in new listings was a result of reduced vendor confidence in the strength of the housing market as well as seasonal factors whereby the winter period normally records a decline in residential property sales activity, particularly for Sydney and Melbourne.

However, older listings rose.

This reveals the slowdown in the housing market driven by lower buyer demand.

Going forward we expect July to record similar trends of lacklustre activity and more rises in older listings.

At this stage, we can safely state there is no panic in the market.

The downturn remains orderly, but it is evident from SQM’s asking prices series vendors are adjusting their market expectations down, particularly for the Sydney housing market.

Meanwhile, cities still recording strength include Adelaide and to a lesser extent, Brisbane, and Canberra.

All other cities are now showing signs of weakening.

Distressed Listings on the Rise

Distressed Listings 04 July

It was also noted that of 29 June 2022 there were 6,014 residential properties nationwide selling under distressed conditions.

Number Of Distressed Listings Australia 04 July

This was up from 5,753 distressed listings recorded on 31 May 2022.

On 30 June 2021, there were 7,656 properties selling under distressed conditions.


Source link

Call Us Now