10 Aussie suburbs where listings are drying up
While listings are up across the country, not every suburb can say the same about its own local marketplace, according to new data.
In a new research report, online property sales platform Openn has highlighted that a number of suburbs across the country have been experiencing “significant declines in listing numbers since January.”
But it’s not all bad news, with Openn managing director Peter Gibbons sharing that the research highlights “a select group of suburbs offering increased opportunities for sellers”.
Explaining further, he stated: “Listings are currently increasing in the majority of Australian suburbs, yet a select few are experiencing declines. For sellers in these areas, the lower listing volumes can foster a more competitive atmosphere among buyers, which typically translates to improved sales outcomes.”
The 10 suburbs that have seen the greatest decline in listings across Australia are listed below:
- Rocky Point, Queensland, 4873 – 76 per cent drop in listings
- Mount Pleasant, Queensland, 4521 – 49 per cent drop in listings
- Newtown, Victoria, 3220 – 47 per cent drop in listings
- Carrington, NSW, 2294 – 47 per cent drop in listings
- Richmond, Queensland, 4740 – 46 per cent drop in listings
- Richardson, ACT, 2905 –36 per cent drop in listings
- Abermain, NSW, 2326 – 35 per cent drop in listings
- Thuringowa Central, Queensland, 4817 – 31 per cent drop in listings
- Kanwal, NSW, 2259 – 29 per cent drop in listings
- Leda, Western Australia, 6170 – 29 per cent drop in listings
According to Openn, rankings were established based on the highest average monthly percentage decline in listings between January and February, followed by February and March 2023.
While Queensland and NSW were the states most represented in the top 10, the issue of listings drying up is not just being seen across the eastern states. When zooming out to the top 20, Western Australia had three suburb entrants — the third-most across all Australian states and territories. Alongside Leda, Gidgegannup (Western Australia, 6083) saw listings drop by 28 per cent, while Meadow Springs (Western Australia, 6210) also saw listings decline by 26 per cent.