Listings activity
At Ray White, we gauge upcoming listings through listing authorities - the point when a vendor signs an agent to sell their home. With our market share in excess of 15 per cent, this provides valuable market insights. Good news for buyers: nationally, our 28-day rolling sum of listing authorities is at an all-time high. All states show strong volumes, with Victoria | Tasmania leading, followed by South Australia | Northern Territory. New South Wales | ACT shows the smallest increase since last year.
Various factors drive this trend. Strong price growth in Perth, Adelaide, and south-east Queensland motivates sellers. In Melbourne, new investor taxes make rental properties less attractive. Hobart’s falling prices due to low population growth may also encourage listings.
This surge in listing authorities suggests a vibrant spring selling season ahead. Buyers can expect more options and potentially less competition per property. However, the impact on prices remains to be seen, as increased supply meets pent-up demand in many areas.
At Ray White, we gauge upcoming listings through listing authorities - the point when a vendor signs an agent to sell their home. With our market share in excess of 15 per cent, this provides valuable market insights. Good news for buyers: nationally, our 28-day rolling sum of listing authorities is at an all-time high. All states show strong volumes, with Victoria | Tasmania leading, followed by South Australia | Northern Territory. New South Wales | ACT shows the smallest increase since last year.
Various factors drive this trend. Strong price growth in Perth, Adelaide, and south-east Queensland motivates sellers. In Melbourne, new investor taxes make rental properties less attractive. Hobart’s falling prices due to low population growth may also encourage listings.
This surge in listing authorities suggests a vibrant spring selling season ahead. Buyers can expect more options and potentially less competition per property. However, the impact on prices remains to be seen, as increased supply meets pent-up demand in many areas.
The property market appears to be emerging from a prolonged ‘holding pattern’, with preliminary data from August and September indicating a modest uptick in listing levels after a subdued winter selling period. This shift suggests a turning point in market sentiment, moving away from the recent period of caution driven by inflation concerns and interest rate uncertainties. The growing optimism surrounding potential interest rate reductions later in 2024 is expected to catalyse a more active spring selling season. This change in outlook is likely to encourage both buyers and sellers who have been hesitant to engage in the market.
As economic confidence builds, we anticipate a surge in listing activities, with property owners who have been reluctant to sell now preparing to enter the market. This potential increase in supply could reshape market dynamics, offering more choices to prospective buyers who have been waiting for more favourable conditions. Overall, this transition signals a possible end to the market’s holding pattern and the beginning of a more dynamic property landscape in the coming months.
Across capital cities there was a seven per cent increase in the number of properties for sale on an annual basis. Brisbane and Sydney lead the recovery, with impressive yearly increases of 20.6 per cent and 20 per cent respectively. On a monthly basis, the results were more mixed with only Adelaide and Hobart seeing more properties for sale in September compared to August.
Melbourne showed the most significant decline over the month, however came off a particularly strong August. Canberra experienced a similar trend with a 10.7 per cent drop.
Across capital cities there was a seven per cent increase in the number of properties for sale on an annual basis. Brisbane and Sydney lead the recovery, with impressive yearly increases of 20.6 per cent and 20 per cent respectively. On a monthly basis, the results were more mixed with only Adelaide and Hobart seeing more properties for sale in September compared to August.
Melbourne showed the most significant decline over the month, however came off a particularly strong August. Canberra experienced a similar trend with a 10.7 per cent drop.
Unlike capital cities, regional markets haven’t experienced the same level of rebound in listing numbers, only recording a 1.5 per cent increase over the year. The results however were more mixed by state. Regional NSW saw the biggest jump in listings, up over nine per cent for the month and 8.7 per cent for the year. Regional VIctoria was also positive for both the month and by year.
In all other states, we recorded a drop on an annual basis for regional areas. Regional Tasmania however recorded a strong month but still recorded a drop over the year. There are relatively low listing volumes in many regional areas and hence the time series can be volatile.
