Total listings remain 28.6 per cent higher than a year ago, while auction rates improved slightly on a weekly basis, RP Data reported in its latest market update report today.
“During the last four weeks, the total number of properties advertised for sale nationwide increased by 1.8 per cent compared to the previous four weeks ended 26 June,” the company said. “Across the combined capital cities, new listings rose by a greater 2.4 per cent.”
RP Data reported new listings were up 7.1 per cent when compared to the same time last year. Modest improvements were also noted modest improvements in capital city auctions last week. “Across 1,185 capital city auctions last week, RP Data recorded the weighted average clearance rate at 52.5 per cent,” it said.
“This result was an improvement on the 46.9 per cent clearance rate reported the week prior. Auction clearance rates in Melbourne improved from 52.6 per cent the previous week to 55.1 per cent last week. In Sydney, the clearance rate also improved, increasing from 51.5 per cent the previous week to 54.7 per cent last week.”
While new rental listings remain higher on a year-on-year basis, up 14.3 per cent, the number of new properties advertised for rent fell by 2.7 per cent over the last four weeks compared to the previous four weeks ending June 26. Total rental listings also remain at much higher levels than at the same time last year, up 12.8 per cent nationally, RP Data added.