Invest
Melbourne leads surge in October listings
As COVID-19 restrictions were relaxed, capital cities saw a significant rise in property listings in October, led by a surge in Melbourne.
Melbourne leads surge in October listings
As COVID-19 restrictions were relaxed, capital cities saw a significant rise in property listings in October, led by a surge in Melbourne.
Figures released this week by SQM Research reveal national residential property listings significantly increased in October by 6.5 per cent to 308,413 listings from 289,566 listings in September 2020. Compared with 12 months ago, listings were down by 3.3 per cent.
All capital cities recorded increases in property listings over the month, with Melbourne recording a huge increase of 26.7 per cent, which equals to 44,057 total stock on market from September’s 34,771.
Both Sydney and Canberra also posted large increases of 8.4 per cent each to total stocks of 34,061 and 4,167, respectively, while Hobart posted an 8.2 per cent increase to 1,879.
Brisbane recorded a 4.6 per cent increase to 30,213, Adelaide 4.5 per cent to 14,691 and Perth 4.2 per cent to 23,203. Darwin recorded the smallest increase of 0.6 per cent to 1,450.
“It seems like we are moving back to the usual spring selling season with all capital city listings rising in October,” according to SQM Research director Louis Christopher.
“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.”
National year-on-year listings reveal a decrease of 3.3 per cent, with significant decreases in Darwin (24.5 per cent) and Hobart (12.1 per cent). Melbourne, on the other hand, recorded a large increase of 22.0 per cent and Sydney a 13.6 per cent increase. All other capital cities recorded declines over the 12 months.
Asking prices
Capital city average asking prices also increased by 1.8 per cent for houses and 0.1 per cent units over the month to 3 November. Average house asking price is now at $989,100, while the average unit asking price sits at $563,900.
Compared with a year ago, the capital city asking prices posted an increase of 5.2 per cent for houses but declined by 1.0 per cent for units.
Looking at each capital city, Sydney continued to record a decline in unit asking prices of 0.5 per cent but recorded an increase of 0.7 per cent for houses. Perth and Hobart also recorded declines in unit prices of 0.3 per cent and 0.4 per cent, respectively. Hobart, however, posted the largest gain in house prices of 2.5 per cent.
Following the lifting of COVID-19 restrictions, Melbourne has rebounded, posting increases in both house asking prices of 0.4 per cent and a 1.0 per cent increase in units.
Meanwhile, Canberra house asking prices remained stable and unit asking prices increased by 1.7 per cent.
Year-on-year, most capital cities recorded increases in house and unit asking prices, with a significant increase of 17.8 per cent in Hobart’s unit asking price and 10.1 per cent in house asking prices.
RELATED ARTICLES
Property
Australia’s rental squeeze is now a business problem: inflation, capacity and the new growth calculus
Record-low rental vacancies are no longer just a social headline – they’re reshaping cost structures, wage dynamics and capital allocation across corporate Australia. With economists warning of a ...Read more
Property
Rents Are Repricing Australia Inc: What record‑low vacancies mean for inflation, talent and strategy
Australia’s rental market has slipped into a vacancy desert, and it’s not just tenants feeling the heat. Persistently tight supply is pushing up rents, embedding services inflation and complicating ...Read more
Property
Young buyers poised for a comeback as 5% First Home Guarantee takes effect
In a move set to reshape the Australian property landscape, the government’s revamped First Home Guarantee is poised to open the doors of homeownership to a new generation of young AustraliansRead more
Property
AFG Securities waives settlement fees for first-home buyers, signalling strategic shift
In a strategic move aimed at easing the financial burden on first-home buyers, AFG Securities has announced the elimination of settlement fees on select loans, potentially saving customers up to $699Read more
Property
From trust woes to wealth: Australian agencies' secret to boosting prices
In Australia’s residential market, trust is no longer a nice-to-have—it’s a pricing variable. Persistent distrust of real estate agents is depressing vendor outcomes and inviting regulatory heat, but ...Read more
Property
Reality check for first home buyers: Affordable suburbs with 5% deposit
In a significant development for Australian first home buyers, a new property search tool from Aussie Home Loans is set to transform the way prospective homeowners approach the market. As the Federal ...Read more
Property
Trust as a performance multiplier in Australia's real estate market
In Australia’s A$10–11 trillion housing market, trust is emerging as a crucial factor that sellers and agencies can no longer afford to overlook. Traditionally viewed as a soft metric, trust is now ...Read more
Property
LJ Hooker Lake Macquarie makes a splash with Belmont buy as real estate consolidation looms
LJ Hooker Lake Macquarie’s acquisition of the Belmont office, including its rent roll, is less about shopfronts and more about balance‑sheet resilience. In a market where listings ebb and flow with ...Read more
Property
Australia’s rental squeeze is now a business problem: inflation, capacity and the new growth calculus
Record-low rental vacancies are no longer just a social headline – they’re reshaping cost structures, wage dynamics and capital allocation across corporate Australia. With economists warning of a ...Read more
Property
Rents Are Repricing Australia Inc: What record‑low vacancies mean for inflation, talent and strategy
Australia’s rental market has slipped into a vacancy desert, and it’s not just tenants feeling the heat. Persistently tight supply is pushing up rents, embedding services inflation and complicating ...Read more
Property
Young buyers poised for a comeback as 5% First Home Guarantee takes effect
In a move set to reshape the Australian property landscape, the government’s revamped First Home Guarantee is poised to open the doors of homeownership to a new generation of young AustraliansRead more
Property
AFG Securities waives settlement fees for first-home buyers, signalling strategic shift
In a strategic move aimed at easing the financial burden on first-home buyers, AFG Securities has announced the elimination of settlement fees on select loans, potentially saving customers up to $699Read more
Property
From trust woes to wealth: Australian agencies' secret to boosting prices
In Australia’s residential market, trust is no longer a nice-to-have—it’s a pricing variable. Persistent distrust of real estate agents is depressing vendor outcomes and inviting regulatory heat, but ...Read more
Property
Reality check for first home buyers: Affordable suburbs with 5% deposit
In a significant development for Australian first home buyers, a new property search tool from Aussie Home Loans is set to transform the way prospective homeowners approach the market. As the Federal ...Read more
Property
Trust as a performance multiplier in Australia's real estate market
In Australia’s A$10–11 trillion housing market, trust is emerging as a crucial factor that sellers and agencies can no longer afford to overlook. Traditionally viewed as a soft metric, trust is now ...Read more
Property
LJ Hooker Lake Macquarie makes a splash with Belmont buy as real estate consolidation looms
LJ Hooker Lake Macquarie’s acquisition of the Belmont office, including its rent roll, is less about shopfronts and more about balance‑sheet resilience. In a market where listings ebb and flow with ...Read more
