Although February is a good month for registrations, only Sydney, Melbourne and Canberra registered gains during the month, according to the latest figures from SQM Research.
The total number of national registrations reached 295,969, which represents a slight increase of 0.2%. Sydney and Melbourne did the heavy lifting with their respective gains of 9.9% and 10%. Canberra registrations also increased 3.8%.
Louis Christopher, managing director of SQM Research, said the three cities had a significant increase in new registrations during the month, up 60% from the previous month.
"However, we are declining for the year in all cities because absorption rates have increased. There are now many more buyers compared to the year last, and therefore excess inventory is sold and removed from the market, "he said.
The graph below shows the monthly and annual difference in enrollment in each capital:
In terms of asking prices, the houses recorded an annual increase of 8.3% while the units declared a minimum gain of 0.4%. SQM Research said that there was a delay in the growth of asking prices for the units due to the persistent problems regarding the structural quality of the buildings.
Hobart reflected the most significant increase in asking prices for homes and units on an annual basis.
In contrast, Darwin and Perth recorded declines in the two housing segments.
The table below shows the prices charged in each capital.
Top suburbs:
wallend
,
whyalla
,
fresh water
,
sunshine
,
Canterbury
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