Invest
Spring selling sees east coast boom
The latest figures show spring has finally sprung for Australia’s property market as sellers enter the market.
Spring selling sees east coast boom
The latest figures show spring has finally sprung for Australia’s property market as sellers enter the market.
SQM Research has revealed a 2 per cent increase in listings across the country, with data showing 318,874 new listings hit the market in October across the country from 312,754 listings in September.
The October improvement is “a fairly normal phenomenon during the spring selling season”, according to Louis Christopher, managing director of SQM Research.
He also highlighted the stronger performances seen across Australia’s two largest cities.
“Sydney and Melbourne have larger counts of new listings compared to this time last year, which should please real estate agents. Old stock still appears to be declining but remains at somewhat elevated levels,” Mr Christopher noted.
Despite stellar Sydney and Melbourne stocks, all states experienced an increase in property sales listings over the month, except for Darwin.
Capital city average asking prices have decreased marginally by 0.7 of a percentage point for houses but increased by 0.3 of a percentage point for units over the period. Average asking prices for houses are now $935,400 while units average at $570,100.
Sydney
Sydney experienced the highest increase percentage for October listings across all major cities, up by 4.2 per cent. Listings are still well short of last year, but down by 19 per cent from 12 months ago.
Sydney’s median asking price for houses had decreased by 1.6 per cent, but there was a 0.7 of a percentage point increase for units. Median price for houses is now $1,283,900 in Sydney, while a unit will set investors back $702,700.
Canberra
Canberra’s October sales listings volume increase was not far behind Sydney, posting a 4.1 per cent increase for the month.
The price of a house in Canberra is slightly down – 0.9 of a percentage point – and now sits at $802,000.
Unit asking prices also fell by 1.8 per cent to $433,500.
Melbourne
Australia’s second largest city saw a 3.7 per cent increase in listings volume from September.
Melbourne’s current median house price is now marked at $955,600 for houses, still sitting below its $1.008 million high in April 2018.
Units in Melbourne are now setting buyers back an average $547,300.
Brisbane
Volume growth was more subdued in Brisbane but still improved by 1.9 per cent compared with September.
Brisbane’s median house price increased by 0.8 of a percentage point and has continued its upward growth trajectory that began back in 2009, with the average asking price now sitting at $631,800.
Perth
The west-coast capital saw stronger listings growth, moving up by 2.7 per cent.
The marked increase in supply did not hurt selling prices, which also lifted by 0.7 of a percentage point.
The average asking price is now up at $654,600.
The same cannot be said of units, which are now down by 0.3 of a percentage point for the month and sitting at $377,400.
Hobart
One of Australia’s property hotspots, Hobart had a marginal increase in listing volumes over the month, at 0.8 of a percentage point.
Values have continued to perform strongly, with asking prices for houses increasing by 1.3 per cent for the month to $528,600 while units increased by 4.8 per cent for the month to $346,800.
Adelaide
Favourable market conditions attracted sellers in Adelaide, with the capital experiencing a 3.4 per cent increase in stocks for properties selling, according to the data.
This had led to stronger asking prices, with the average house increasing by 0.2 of a percentage point for the month to $517,900, while the price had also increased by 1.4 per cent to $301,300.
Darwin
Listings in the far north have not been able to capitalise on the favourable market conditions seen elsewhere, with volumes dropping by 2.4 per cent over October.
The lack of supply has not had the effect of increasing asking prices either, with house values falling by 0.4 of a percentage point for the month to $586,000 and units falling by 8.6 per cent to $319,500.
RELATED ARTICLES
About the author
About the author
Property
New investment platform Arkus allows Australians to invest in property for just $1
In a groundbreaking move to democratise investment in property-backed mortgage funds, GPS Investment Fund Limited has launched Arkus™, a retail investment platform designed to make investing ...Read more
Property
Help to Buy goes live: What 40,000 new buyers mean for banks, builders and the bottom line
Australia’s Help to Buy has opened, lowering the deposit hurdle to 2 per cent and aiming to support up to 40,000 households over four years. That single policy lever will reverberate through mortgage ...Read more
Property
Australia’s mortgage knife‑fight: investors, first‑home buyers and the new rules of lender competition
The mortgage market is staying hot even as rate relief remains elusive, with investors and first‑home buyers chasing scarce stock and lenders fighting for share on price, speed and digital experienceRead more
Property
Breaking Australia’s three‑property ceiling: the finance‑first playbook for scalable portfolios
Most Australian investors don’t stall at three properties because they run out of ambition — they run out of borrowing capacity. The ceiling is a finance constraint disguised as an asset problem. The ...Read more
Property
Gen Z's secret weapon: Why their homebuying spree could flip Australia's housing market
A surprising share of younger Australians are preparing to buy despite affordability headwinds. One in three Gen Z Australians intend to purchase within a few years and 32 per cent say escaping rent ...Read more
Property
Tasmania’s pet-positive pivot: What landlords, BTR operators and insurers need to do now
Tasmania will soon require landlords to allow pets unless they can prove a valid reason to refuse. This is more than a tenancy tweak; it is a structural signal that the balance of power in rental ...Read more
Property
NSW underquoting crackdown: the compliance reset creating both cost and competitive edge
NSW is moving to sharply increase penalties for misleading price guides, including fines linked to agent commissions and maximum penalties up to $110,000. Behind the headlines sits a more ...Read more
Property
ANZ’s mortgage growth, profit slump: why volume without margin won’t pay the dividends
ANZ lifted home-lending volumes, yet profits fell under the weight of regulatory and restructuring costs—an object lesson in the futility of growth that doesn’t convert to margin and productivityRead more
Property
New investment platform Arkus allows Australians to invest in property for just $1
In a groundbreaking move to democratise investment in property-backed mortgage funds, GPS Investment Fund Limited has launched Arkus™, a retail investment platform designed to make investing ...Read more
Property
Help to Buy goes live: What 40,000 new buyers mean for banks, builders and the bottom line
Australia’s Help to Buy has opened, lowering the deposit hurdle to 2 per cent and aiming to support up to 40,000 households over four years. That single policy lever will reverberate through mortgage ...Read more
Property
Australia’s mortgage knife‑fight: investors, first‑home buyers and the new rules of lender competition
The mortgage market is staying hot even as rate relief remains elusive, with investors and first‑home buyers chasing scarce stock and lenders fighting for share on price, speed and digital experienceRead more
Property
Breaking Australia’s three‑property ceiling: the finance‑first playbook for scalable portfolios
Most Australian investors don’t stall at three properties because they run out of ambition — they run out of borrowing capacity. The ceiling is a finance constraint disguised as an asset problem. The ...Read more
Property
Gen Z's secret weapon: Why their homebuying spree could flip Australia's housing market
A surprising share of younger Australians are preparing to buy despite affordability headwinds. One in three Gen Z Australians intend to purchase within a few years and 32 per cent say escaping rent ...Read more
Property
Tasmania’s pet-positive pivot: What landlords, BTR operators and insurers need to do now
Tasmania will soon require landlords to allow pets unless they can prove a valid reason to refuse. This is more than a tenancy tweak; it is a structural signal that the balance of power in rental ...Read more
Property
NSW underquoting crackdown: the compliance reset creating both cost and competitive edge
NSW is moving to sharply increase penalties for misleading price guides, including fines linked to agent commissions and maximum penalties up to $110,000. Behind the headlines sits a more ...Read more
Property
ANZ’s mortgage growth, profit slump: why volume without margin won’t pay the dividends
ANZ lifted home-lending volumes, yet profits fell under the weight of regulatory and restructuring costs—an object lesson in the futility of growth that doesn’t convert to margin and productivityRead more
