New listings increased a month before Christmas in capital cities, an unusual sight for a generally slow month for real estate activity.
The latest PropTrack Listings report from REA Group showed new listings on realestate.com.au increased 12.5% ??in November, reaching a multi-year high and marking the third consecutive month of double-digit gain.
On an annual basis, new registrations in November increased by 44.5%.
PropTrack economist Angus Moore said market activity continued to soar in November as sellers made up for lost time after lockdowns.
"In Australian capitals, new listings reached their highest level in a decade," he said.
“This is a good result for November, which is usually a bit lower than October depending on the season. "
“However, this year's peak was pushed back by the delayed start of the spring sales season due to lockdowns. "
Due to the delayed start of the spring sales season, Mr. Moore said December could be busier than usual with sellers being held back due to lockdowns preparing to close a sale before Christmas .
“As buyers and sellers take a break for the Christmas holidays, real estate markets will be calmer over the next two months. "
Mr. Moore said sales conditions are expected to remain strong until early next year before moderating from the high level of activity seen in recent months.
“Measures of buyer demand remain elevated but eased slightly in November. At the same time, the new offering entering the market means buyers have more options to choose from than has been the case for much of this year, ”he said. .
City by city performance
Buyers in Sydney had more options last month, as the wave of new listings reached the highest level since 2015.
The southwest and Sutherland of Sydney saw the strongest growth in new listings over the past month.
New listings in Melbourne hit their highest record after growing 11.2%.
Brisbane also welcomed more homes to the market during the month, with new listings up 14.4%, the highest since 2018.
The housing market was also active in Adelaide, which saw a 23.9% increase in new listings – the strongest growth in seven years.
New listings have also skyrocketed in Perth, rising 14.8% in the month to reach the highest level since 2014.
Meanwhile, Hobart recorded the biggest gain at 42.4% while Canberra saw 22.1% growth in new listings.
Darwin reported marginal growth in new registrations, up just 0.4%. Still, new listings in the city exceeded their 2020 levels, rising 68.9% annually.
Top Suburbs:
canterbury
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narara
,
padbury
,
Alexandria
,
willoughby is
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