​Property listings plummet, Sydney leads the fall

by AB08 Jan 2014
The number of property listings fell in most states in 2013, with Darwin and Sydney recording the biggest yearly change.

According to the latest figures from SQM Research, year-on-year property stock was down 4.3% nationally, with Darwin listings falling 19.8% and Sydney’s down 19.6%.

For the month of December the nation’s most populous city also took the biggest hit, with residential listings falling 26.4% in Sydney for the month. Darwin saw an 8.5% drop in the final month of the year, in line with the national average.

Canberra saw the second-largest fall in December, with stock levels falling 17.6%.

Hobart was the only capital city to record a monthly rise in listings in December, increasing by 0.4%. Yearly figures in Hobart were down 5.7%, however.

Asking prices have also shot up 7.2% in the past year, with the average capital city asking price for houses now at $706,300.

Sydney was at the forefront of the price rise, with asking prices up 14% in the NSW capital.

Canberra was the only capital city to record a decline in asking prices for houses on a yearly basis, falling by 1.5%.