Sydney’s property supply is showing growth while other capital cities recede, new digital data has confirmed.
The New South Wales capital appears to be rebounding from the lockdowns that continue to impact movement in the city and its outlying areas. One-on-one inspections, coupled with the government’s announcement of a pathway out of lockdown, seems to have restored the confidence of some sellers.
According to REA’s PropTrack Listings Report for September 2021, listings for Sydney properties on realestate.com.au were up 11.9 per cent in August over July.
Around the city, Parramatta and the Inner South West had the highest share of total properties making their debut, while supply was tight in the Northern Beaches and Sutherland, where the least number of new listings were seen.
Though Sydneysiders seem to be pushing ahead with sales despite stay-at-home orders, COVID-19 restrictions have hampered growth across other locked-down capitals.
The number of new Melbourne listings was down by 27.1 percent over last month. Canberra took an even bigger dive with 35.1 per cent fewer homes appearing online.
Stay-at-home orders in Darwin also had sellers pressing pause on their plans with listings down 1.5 per cent. Brisbane, which was in lockdown during the first week of the month, also saw a small decline of 4.9 per cent.
Adelaide, Hobart, and Perth brought up the average with online listings in August rising by 37.3 per cent, 22.4 per cent, and 7.2 per cent respectively. But even with their strong showing, overall new listings on realestate.com.au fell 2.3 per cent month-on-month nationally in August, down to the levels experienced in January 2021.
Despite the monthly decline, the national new listing average still sits well above the numbers seen in August 2020. New listings this month are 17.1 per cent higher than they were 12 months prior.
ABOUT THE AUTHOR
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.