Source: CoreLogic RP Data
The national number of newly advertised properties was -8.4% lower relative to the same period one year ago with 44,541 properties added to the listings pool over the past twenty eight days.
Across the combined capital cities new listings are -6.9% lower than they were at the same time last year.
Adelaide (+0.9%) and Canberra (+19.8%) are the only capital cities where new listings are higher than a year ago while they are unchanged in Melbourne.The total number of properties available for sale is also lower than a year ago across both the national (-2.5%) and combined capital city (-0.9%) markets.
The capital cities with a higher number of total listings relative to a year ago are: Sydney (+4.4%), Perth (+11.2%), Darwin (+11.1%) and Canberra (+4.8%).Over the coming weeks as we lead in to Christmas we would expect the number of new listings to continue to trend lower and the total listings to continue to fall as vendors withdraw their properties from the market over the typically quiet sales period.
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