Listing activity for the year continues to move at a snail’s pace, as June failed to buck the downward trend. Ray White‘s analysis found June’s listing activity to be lower than last year’s. Across Australia, new properties for sale were depressed by 8.3% year-on-year in June.
Listing levels differ across capital cities. Activity in Sydney, Melbourne, and Canberra is far below the performance of June last year. Perth has the most significant listings decline, posting a year-on-year loss of 24.4%.
New listings remain down on previous years
Total listings fared well compared to last year, with some differences among major cities. Hobart’s listings jumped by 54.9% when compared to the previous year. Canberra’s stock has grown, though the capital has more older listings. On the other hand, listings dropped in Sydney and Perth.
Listing movements for Australia
Listing authorities, defined here as properties signed to Ray White but not advertised, have been creeping upwards in June. New listings in June are a little under that of last year. Notably, the listings authorities chart illustrates how the industry is impacted by seasonal trends, with activity usually rising in spring, although this was not observed in 2022.
Capital cities breakdown
Stock in Bradbury and Catherine Field rose by 100%, while Palm Beach and Glenmore Park saw their stock drop by 61% compared to last year. New listings are declining slightly month-on-month and year-on-year, with listings still well below the early 2022 highs. Total listings have also reduced month-on-month and year-on-year as supply fails to match demand.
Sydney new listings – top growth and decline suburbs
Cheltenham and Nunawading’s stock rose by 100% from the previous year, while the rural locality Mambourin saw its stock dip by 77%. New listings in Melbourne fell month-on-month and year-on-year, mimicking trends seen in Sydney. Total listings slumped month-on-month by 2%, while year-on-year total listings rose by 1.4%
Melbourne new listings – top growth and decline suburbs
Suburbs in Brisbane and surrounds experienced spikes in new listings, with Greenbank and Park Ridge having 235% and 180% more stock. Other suburbs like Raceview and Fernvale saw their listings diminish by 63%. Brisbane’s total listings remained the same year-on-year but receded marginally last month. Listings in Brisbane only started to drop from the start of 2023.
Brisbane new listings – top growth and decline suburbs
The top-performing suburb in Adelaide is Angle Vale, with 249% year-on-year growth, while its worst-performing counterpart is Evanston Gardens, which dropped in listings by 62%. Adelaide’s month-on-month listings fell, although new listings are still above last year’s. Total listings have followed a similar trend, with month-on-month listings falling by 7.5% while year-on-year listings rose by 6%.
Adelaide new listings – top growth and decline suburbs
Listings in Heathridge and Melville spiked by 92% and 82%, respectively. New listings dipped by 3.5% this month compared to last month and have declined by 25% compared to June last year. Total listings fell by 7% from May to June and are down overall by 23.1%. New listings only contracted in the past three months but at a rate unseen in other parts of Australia.
Perth new listings – top growth and decline suburbs
Brighton had a 120 % uptick in stock, while Newton’s stock declined by 61%. Hobart is experiencing a significant decline in new listings, with a month-on-month decline of 25.7% and a yearly drop of 18.5%. Total listings dived by 23.1% in the last year and 6.9% in May this year.
Hobart new listings – top growth and decline suburbs
Zucolli has a 244% rise in listings, while Rosebery’s listings halved. New listings fell in May by 0.7% and 4.4% in June last year. On the other hand, in line with the other major cities where new listings surpassed sales, total listings rose by 3.9% month-on-month and 3.2% year-on-year.
Darwin new listings – top growth and decline suburbs
Nurrabundah’s new listings spiked by 60% in June last year, whereas Whitlam’s new listings shrunk by 57%. New listings contracted by 5.7% from May and 6% from June last year. Total listings fell by 6.4% compared to May, although they are still above the levels of June the previous year by 11.5%.
Canberra new listings – top growth and decline suburbs
Article source: Queensland Property Investor