New Listings Slow

The spring listing season has started slowly, according to Cotality data.

It shows that  in the four weeks ending October 11, there were 36,440 new listings across Australia – 7.9% fewer than a year earlier and 11.9% below the previous five-year average.

Hobart leads the fall in new listings (-27.9%), followed by  Sydney (-21.0%). Melbourne new listings are down by 19.5%, Canbera is down 17.7% and Brisbane is down 3.9%

New listings are up 18.5% in Adelaide, 9.4% in Perth and 4.1% in Darwin.

Total listings (that is properties already on the market plus the new listings) have hit 145,573 – up 19.1%  on the same period last year and 2.7% above the previous five-year average.

Across the combined capital cities, Perth (64.7%) and Brisbane (60.4%) have the largest increases in total listings, while Hobart is the only capital with a decline in total listings (-19.7%).