The number of new properties advertised for sale fell last week as it has done so over the last five weeks. This is a seasonal trend and we expect the number of new listings to start trending upwards to more normal levels by month’s end.

Despite the sharp decline, the number of new listings nationally is currently 1.1% higher than at the same time last year and -5.5% lower across the combined capital cities.

RP Data is currently tracking 293,887 properties for sale across the nation and 126,760 properties across the capital cities. The total number of properties advertised for sale has been trending lower over the past month or so.

Despite the downward trend in listings, the number of homes for sale remain 39.2% higher than they were at the same time last year nationally and 41.8% higher across the combined capital cities.

From the second week of January the volume of listings typically starts to increase once more, it will be interesting to see if that trend is evident again this year and whether listing will return to or exceed their pre-Christmas levels. If they do, we can expect fairly similar conditions to those experienced throughout the Spring Selling Season, if not we may see signs of an improvement in the market.  Source:RPData

Tagged: Australia, Data, Houses, property, Real Estate, RPData

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