Real Estate Investment:Today

Total property listings fall in May

Key takeaways

National residential property listings fell in May 2022 by 2.2% to 223,859 from 228,901 in April. Compared to 12 months ago, listings dropped 9%.

Nationally, new listings (less than 30 days) fell 5.9% over May, with 74,902 new properties added to the market. New listings are down 6% over the year.

Old listings rose 0.9% in May and were down by 36.3% over the year.

National house asking prices rose 18.9% over the year to 6 June 2022, while unit prices rose 16.7%.

The national residential property listings fell in May 2022 by 2.2% to reach 223,859 properties, down from 228,901 in April.

This is based on the figures released by the latest SQM Research.

The largest monthly falls in property listings were in Canberra, Adelaide, and Perth at 5.7%, 5.1% and 2.5%.

Compared to 12 months ago, listings fell by 9%, with large declines recorded in Brisbane, Adelaide and Canberra of 22.1%, 21.9% and 18%.

Total Listings

Total Property Listings 06 June

Nationally, new listings (less than 30 days) fell 5.9% over May 2022 to 74,902 properties on the market, to be down 6% over the year.

Hobart and Canberra recorded the most significant falls in new listings for the month, down by 28.2% and 10.6%.

Over the year, new listings rose the most in Hobart by 23.7% and fell the most in Canberra, Melbourne and Sydney by 19.6%, 14.1% and 13.6%.

New Listings 06 June

Source: SQM Research

On the other hand, property listings over 180 days rose by 0.9% in May 2022.

The capital cities of Sydney and Melbourne recorded significant increases of 9.6% and 6.2% respectively, while Hobart recorded a 13.3% increase.

A rise in old listings is normally suggestive of impending slower market conditions as vendors increasingly struggle to sell their properties in a reasonable time frame.

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