The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
4
print
Print
ResidentialDinah Lewis BoucherTue 03 Nov 20

Residential Property Listings Pick Up in October

c8a7490a-a553-4a0a-a55f-d593a6f36459

Australia’s housing market has seen a bounce in October with all capital cities recording increases in property listings over the month, led by Melbourne.

As Covid related restrictions started to ease, Melbourne recorded a 26.7 per cent surge in October with 9,286 more properties hitting the market than September.

The SQM figures show that all capital cities recorded increases in property listings over the month.

National residential property listings lifted 6.5 per cent in October to 308,413 from 289,566 listings in September.

“It seems like we are moving back to the usual spring selling season with all capital city listings rising in October,” Managing Director of SQM Research Louis Christopher said.

“Melbourne, in particular, has bounced back in a big way after the relaxing of Stage 4 restrictions. In fact, we are expecting another big rise in listings during the month of November for Melbourne.”

A rise in new home loans and recent property price figures showing values are holding add to the momentum of the central bank’s historic Tuesday cut to the cash rate, now 0.1 per cent.

Historically cuts to interest rates have fuelled housing market activity and generally put upwards pressure on dwelling prices.

Total property listings

CityOct 2019Sep 2020Oct 2020Monthly ChangeYearly Change
Sydney29,97731,42934,0618.4%13.6%
Melbourne36,12234,77144,05726.7%22%
Brisbane31,10128,88330,2134.6%-2.9%
Perth24,36822,27223,2034.2%-4.8%
Adelaide16,36914,06214,6914.5%-10.3%
Canberra4,5293,84441678.4%-8%
Darwin1,921144114500.6%-24.5%
Hobart2,138173718798.2%-12.1%
National318,874289,566308,4136.5%-3.3%

^ SQM Research

Sydney and Canberra each posted large increases of 8.4 per cent. Hobart posted an 8.2 per cent increase.

Brisbane recorded a 4.6 increase, Adelaide 4.5 per cent and Perth 4.2 per cent.

The figures show Darwin recorded the smallest increase of 0.6 per cent.

The SQM figures show that listings are down by 3.3 per cent compared to 12 months ago.

Average asking prices are now $563,900 for units and $989,100 for houses, an increase of 1.8 per cent for houses and 0.1 per cent for units over the month to 3 November.

SQM notes that over the month, most capital cities recorded marginal asking price increases in houses and units.

After the lifting of Covid-19 restrictions, SQM notes that Melbourne is recording a rebound with increases in both house and unit asking, up 0.4 per cent for houses, and asking prices for units up 1 per cent over the period.


ResidentialAustraliaBrisbaneMelbournePerthAdelaideCanberrado not useDarwinReal EstateSector
AUTHOR
Dinah Lewis Boucher
More articles by this author
ADVERTISEMENT
TOP STORIES
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
View All >
Warren and Mahoney's rendering of Leftfield's project at 691-693 Burke Road, in Melbourne's Camberwell.
Residential

Leftfield Lifts Cover on 14-Storey Scheme at Camberwell

Marisa Wikramanayake
Kangaroo Point Aria Canopy House Revised DA Approval hero
Development

Aria’s Revised Tower Greenlit for Inner-City Kangaroo Point

Phil Bartsch
Hotel

Perth Hotel New Role Revealed After $105m Sale

Lindsay Saunders
The WA government’s acquisition is to become a part of its bid to improve housing supply in the capital...
LATEST
Warren and Mahoney's rendering of Leftfield's project at 691-693 Burke Road, in Melbourne's Camberwell.
Residential

Leftfield Lifts Cover on 14-Storey Scheme at Camberwell

Marisa Wikramanayake
3 Min
Kangaroo Point Aria Canopy House Revised DA Approval hero
Development

Aria’s Revised Tower Greenlit for Inner-City Kangaroo Point

Phil Bartsch
3 Min
Hotel

Perth Hotel New Role Revealed After $105m Sale

Lindsay Saunders
2 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/property-listings-pick-up-in-october