Powered by MOMENTUM MEDIA
subscribe to our newsletter
Fewer property listings a result of higher prices

Fewer property listings a result of higher prices

Five of Australia’s eight capital cities have recorded declines in property listings during the past year.

The biggest decline has occurred in Melbourne, according to new statistics from CoreLogic RP Data.

There were 30,327 listings in Melbourne for the 12 months to 8 March 2015. That marked a 10.6 per cent fall on the previous year.

Advertisement
Advertisement

Meanwhile, Melbourne’s median property price grew 7.4 per cent in the period between March 2014 and February 2015.

Sydney experienced a 10.0 per cent drop in listings to 19,763 alongside a 13.7 per cent jump in prices.

Hobart also saw listings decline by 10.0 per cent, to 3,014, while prices rose 0.7 per cent.

Adelaide’s listings fell 7.3 per cent to 7,952, while prices rose 3.4 per cent.

Listings in Brisbane declined 2.9 per cent to 19,032 as prices climbed by 5.9 per cent.

Conversely, Australia’s weakest property markets saw a big increase in listings.

Darwin experienced a 33.1 per cent jump in listings to 1,445 alongside a 1.6 per cent increase in prices.

Canberra’s listings increased by 26.4 per cent, while prices increased by 1.8 per cent.

Perth’s listings grew 12.2 per cent to 19,604, while prices climbed 0.6 per cent.

Fewer property listings a result of higher prices
mortgagebusiness

 

Latest News

ASIC has approved the brand change of a Western Australian-based lender, which according to the bank will help facilitate the national launc...

The government has launched a consultation on making industry codes, such as the ABA’s banking code, legally enforceable. ...

Home loan interest rates can rise 43 to 52 basis points on average once fixed rate terms end, unless borrowers proactively negotiate, a new ...

FROM THE WEB
podcast

LATEST PODCAST: Coalition government and CBA delays

Is enough being done to ensure responsible lending?