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New data reveals big increase in listings over the past year -Sydney and Darwin

Agent Select / Property News / New data reveals big increase in listings over the past year -Sydney and Darwin

Sydney and Darwin have experienced by far the biggest increase in listings over the past year, new data has revealed.

SQM Research has reported that Sydney had 28,597 listings in November – an increase of 11.8 per cent over the previous year.

Darwin underwent a similar surge, with listings up 11.4 per cent to 2,042.

Perth, Australia’s other struggling market, also experienced a significant jump in listings, climbing 6.6 per cent to 24,950.

Listings increased in three other capitals: Adelaide rose 4 per cent to 17,826, Brisbane rose 3.2 per cent to 28,830 and Canberra rose 2.3 per cent to 3,766.

Melbourne experienced a big decline in property listings, with the number of homes on the market down 7 per cent to 40,976.

That was only surpassed by Hobart, where listings dropped 9.1 per cent to 3,891.

Across the country, listings decreased 0.4 per cent to 362,560.

SQM managing director Louis Christopher said it is a little unusual to record falls in listings in November as the spring selling season peaks during that month.

“Nevertheless, we were expecting a pull back of sorts due to the massive surge in listings recorded in October,” he said.

Read the full article at Reb Online
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