Salespeople take a wait-and-see approach as ads decline

Sellers were in no rush to divest their properties over the past month despite a significant increase in auction activity.

The latest figures from SQM Research showed that the total number of real estate listings fell 6.5% in December, reaching an annual decline of 20%.

SQM Research chief executive Louis Christopher said that Sydney, Melbourne and Canberra had the largest enrollment declines in the month, while Perth recorded the smallest decline.

"While there was a significant increase in auction activity in December, the total number of listings was down from a month-to-month comparison and from year to year, ”Mr. Christopher said.

CoreLogic reported that in the third week of December, the auction markets recorded the second highest business results since 2008.

Interestingly, registrations in Perth increased 1.9% on an annual basis, while registrations in Darwin jumped 18.7% from December of last year.

In terms of new listings, there was a monthly drop of 29.5%, with Sydney reporting the largest drop.

However, new registrations have increased from last year, increasing most rapidly in Darwin, Sydney and Perth.

Mr. Christopher said that despite the difference between monthly and annual results, there remains an overall shortage of registrations nationwide.

"As a result, the sellers are not panicking at this point – indeed, they have increased their asking prices for the month," he said.

During the last 30 days to January 4, asking prices increased in all areas except the unit segments in Melbourne, Adelaide and Darwin.

Overall, nationally asking prices for homes rose 0.2% in the month and 19.5% from a year ago, while those of units were down 0.3% from last month but were up 10.4% from 2020.

"Unless we have an increase in listings for the start of the real estate season in February, it looks like a soft landing for the housing market in 2022," Christopher said.

Photo by @bradneathery on Unsplash.

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