The total number of properties listed increased in April, but fewer owners are listing their homes, according to the latest report from SQM Research.
Total residential property listings rose 2.4% to 262,617 in April. However, enrollment levels were still 10.3% lower than in the same month last year.
Canberra, Perth and Sydney recorded the largest monthly increases. Only Hobart saw a drop in real estate listings in the month to 4.8%.
On an annual basis, registrations have increased in Sydney, Perth and Melbourne. The Victorian capital recorded the most substantial annual gain in property listings at 18.9%.
New listings, however, declined during the month, down 2.8% to 81,643 properties. Yet that level was still 57.5% higher than last year.
Hobart recorded the largest drop in new listings at 16%, while Canberra and Sydney reported the healthiest gains at 10.7% and 4.8%, respectively.
"We have seen a sharp increase in new Sydney property listings for the month, partly thanks to five weekends, but also because owners are keen to take advantage of favorable conditions," said Louis Christopher, manager General Research SQM.
Christopher said the decline in older ads suggests that sales rates were still quite high despite the price hike.
In fact, national asking prices increased 2.6% for houses and 0.2% for units. Capitals reported a 5.6% increase in the asking price for homes and a 1.8% decline in units.
“We expect moderate to strong housing market activity this quarter, which will likely push house prices even higher. However, we see continued oversupply of housing in Sydney and Melbourne, with a drop in asking unit prices over the month, leaving room for early buyers and investors to enter the real estate market, ”Christopher said.
Top suburbs:
queens park
,
Rockville
,
nundah
,
toowong
,
coburg north
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