The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
20 DAYS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 500 ALREADY ATTENDING
20 DAYS UNTIL OUR FLAGSHIP CONFERENCE 500+ ALREADY ATTENDING
SECURE YOUR SPOTDETAILS
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
1
print
Print
ResidentialLindsay SaundersTue 04 Apr 23

National Property Listings’ Rise Softer Than Hoped

sqm march 2023 property listings

Property listings rose more than 7 per cent in March on the previous month, according to the latest data from SQM Research, but it hasn’t been the rebound the market needs.

Listings nationally were 249,404 homes last month, up by 7.9 per cent from 231,039 in February.

Nationally, combined home asking prices fell 1.2 per cent over the month, however, Sydney bucked that with prices rising 1.8 per cent month-on-month.

New listings (less than 30 days on the market) increased by 6.8 per cent in March with 75,799 added to the market, while listings greater than 180 days old rose by 4.6 per cent to more than 65,633 homes.

Distressed property listings increased by 5.1 per cent but still remain at benign levels, according to SQM. 

All cities recorded a rise in total listings for the month—Sydney was up 9.2 per cent, while Melbourne and Adelaide also recorded solid rises of 9.6 per cent and 10.5 per cent respectively.

March’s listings were 14.2 per cent up on the same time last year. Hobart’s listings rose 100.4 per cent while Canberra also experienced a significant rise of 26.3 per cent.

However Perth had minor year-on-year declines in residential property listings, down 2.1 per cent.

SQM Research managing director Louis Christopher said that March had recorded a combination of rising newer listings as well as a build-up of older stock not selling.

“There are now more property listings in the market than we recorded this time last year,” Christopher said.

“However, total listings remain well below long-term averages. On previous downturns, total listings for any given month would typically rise above 300,000 properties for sale.

“We are simply just not seeing those numbers in this cycle and it is one of the key reasons the housing market has not corrected more than feared.”

He said SQM had recorded ongoing weakness in the regions’ asking prices and that it was apparent Melbourne vendors still lacked some confidence.

“However, Sydney property sellers actually lifted their asking prices last month. And one only does that when there are more buyers in the market,” Christopher said.

ResidentialAustraliaReal EstateSector
AUTHOR
Lindsay Saunders
The Urban Developer - News Editor
More articles by this author
linkedin icon
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 >
Kangaroo Point Aria Canopy House Revised DA Approval hero
Development

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

Phil Bartsch
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
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
Kangaroo Point Aria Canopy House Revised DA Approval hero
Development

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

Phil Bartsch
3 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Hotel

Perth Hotel New Role Revealed After $105m Sale

Lindsay Saunders
2 Min
Third.i Crows Nest Dolls House render EDM
Build-to-Rent

Thirdi Scraps Office Tower for Crows Nest Over-Station Site

Vanessa Croll
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/national-property-listings-rise-softer-than-hoped