Three cities experience big surge in property listings

Three cities experience big surge in property listings

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Sydney has been grouped alongside the struggling markets of Darwin and Perth for the amount of stock that has come into the market.

Darwin has experienced the biggest increase in residential property listings over the past year, according to SQM Research.

Listings increased from 1,851 in October 2014 to 2,114 in October 2015, an increase of 14.2 per cent.

Sydney had the second-highest jump in listings, with the number of properties on the market jumping 11.6 per cent to 28,827.

The struggling Perth market also experienced a surge of listings, which increased 9.8 per cent to 25,043.

Listings increased in three other capitals – Brisbane rose 2.1 per cent to 28,954, Adelaide rose 2 per cent to 17,340 and Canberra rose 0.7 per cent to 3,675.

The other two capitals experienced a drop in listings – Hobart fell 8.1 per cent to 3,886 and Melbourne fell 9.6 per cent to 39,909.

In month-on-month terms, listings increased in all capitals as part of the normal spring selling season.

Four capitals experienced double-digit gains – Sydney by 22.5 per cent, Canberra by 14.5 per cent, Melbourne by 11.6 per cent and Adelaide by 10 per cent.

In the rest of the country, Brisbane and Adelaide each increased 7.8 per cent, Perth increased 5.5 per cent and Darwin increased 0.6 per cent.

[Related: House price growth slow to a crawl in Sydney]

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