The Australian real estate market experienced a growth in the number of residential listings in October, according to the latest market update conducted by SQM Research.
During the month, the number of listings on domestic residential properties increased by 2%, from 312,754 in September 2019 to 318,874. However, on an annual basis, listings decreased by 4%. , 8%.
All states, with the exception of Darwin, saw their listings grow, with Sydney recording the largest gain at 4.2%. Canberra was not far behind, recording a 4.1% growth in the number of its sales.
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In contrast, real estate listings in Darwin declined 2.4% during the month.
Louis Christopher, Executive Director of SQM Research, said that the number of listings generally increased during the spring sales season.
"Sydney and Melbourne have a greater number of new registrations compared to the same period of last year, which should appeal to real estate agents," he said.
Meanwhile, old stocks continued to decline but remained at high levels.
"This may have prompted some sellers to adjust their expectations over the month, as prices in four of the eight capitals have actually dropped," said Christopher.
Average asking prices in the capital fell slightly by 0.7% for houses during the month, to $ 935,400. In addition, average asking prices for units increased 0.3% to $ 570,100.
On an annual basis, asking prices for homes and units decreased by 0.8%.
Top suburbs:
St Mary
,
East Victoria Park
,
crossing of ropes
,
Melton
,
new farm
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