Listings dry up in Canberra as homes go unsold in Perth

Listings dry up in Canberra as homes go unsold in Perth

19 August 2015 by Nick Bendel 0 comments

Four capital cities have seen listings decline over the past year, while three markets are discounting houses by more than 6 per cent to make sales.

Canberra experienced the biggest decline in listings for the year to 16 August 2015, with numbers down 11.0 per cent to 1,919, according to CoreLogic RP Data.

Hobart listings fell 8.9 per cent to 2,539, Melbourne fell 6.4 per cent to 27,591 and Sydney fell 1.9 per cent to 18,611.

Australia’s other capitals gained listings, with Brisbane up 0.1 per cent to 18,015, Adelaide up 1.0 per cent to 7,330, Darwin up 20.1 per cent to 1,565 and Perth up 20.3 per cent to 19,668.

Meanwhile, houses are selling fastest in the boom market of Sydney and taking longest to sell in the bear market of Perth, according to data from 10-16 August.

Sydney’s median time on market is 26 days, with an average vendor discount of 4.1 per cent.

The other highly competitive markets are Melbourne, where houses sell in 31 days at a 4.6 per cent discount, and Canberra, where houses sell in 34 days at a 2.2 per cent discount.

Brisbane houses sell in 63 days at a 5.7 per cent discount, Adelaide houses sell in 64 days at a 5.8 per cent discount and Hobart houses sell in 65 days at a 6.2 per cent discount.

Australia’s weakest markets are Darwin, where houses sell in 82 days at a 7.3 per cent discount, and Perth, where houses sell in 83 days at a 6.4 per cent discount.

[Related: Prices rising faster than ever in Sydney and Melbourne]

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
At the top of his game: how this agent evolves to stay number one

Get up close and personal with the best real estate sales agents in Australia in Secrets of the Top 100 Agents. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
upcoming events
REB Awards
Sydney The Event Centre 12 Sep
REB Awards
Sydney The Event Centre 12 Sep
Melbourne The Event Centre 14 Oct
Brisbane The Event Centre 18 Dec
View all events
Do you have an industry update?