Two capitals record huge surge in listings
While Australia’s online property listings took a dip in August, new data has revealed two capital cities recorded a massive climb in listings year-on-year.
The number of properties listed for sale online dropped by 4.3 per cent over August, down 3.9 per cent year-on-year, according to SQM research.
Those figures were largely as expected, according to the company, but fail to represent the situation of all capital city markets.
Year-on-year, sales listings in both Darwin and Perth experienced a significant increase.
SQM reserved comment on the trend until another month of data becomes available, but the figures come as both markets continue to experience a significant downturn.
Listings in Darwin grew by 21.1 per cent year-on-year, with the number of properties for sale climbing from 1,719 to 2,081.
Sale listings in Perth increased from 21,116 this time last year to 23,232 – a 10 per cent increase.
The only other capital city to experience an increase in listings was Adelaide. Sales listings in the South Australian capital increased by 2.2 per cent, from 15,075 to 15,410.
It was a different story in Melbourne and Hobart, where sales listings fell significantly over the past year.
Listings in Melbourne fell by a massive 20 per cent, dropping from 44,349 to 35,474, while Hobart's listings fell by 12.6 per cent, and now sit on 3,535 compared with 4,045 this time last year.
Canberra’s listings dropped by 6.4 per cent over the year, from 3,356 to 3,141.
Sydney listings underwent a far less dramatic dip, with the drop from 22,748 sales to 21,874 representing a 3.8 per cent reduction.
Brisbane experienced the smallest shift in sales listings of all the capital cities, with the number of listings dropping by only 1.8 per cent.
The number of online listings in Brisbane for August this year was 26,029, compared with 26,494 at the same time last year.