June new listing activity bucks downward trends

According to figures from PropTrack, new registrations were up 8.5% year over year across the country, making it the busiest month of June for new registrations since 2011.

The winter months usually bring a seasonal lull. This June followed that trajectory with a 3.1% month-over-month decline in new registrations nationwide, but still kept agents on their toes with activity tracking with levels not seen for a decade.

Sydney, for example, had the busiest start to winter since 2015, with new listings up 1.3% from 12 months ago. The small increase in new listings in Melbourne may have been small at 0.5% year-on-year, but it is still the highest level of activity seen in June since 2012.

Hobart and Canberra posted exceptional gains on a year ago, with Hobart up 44.4% and Canberra up 32.1%, which was a June record for the latter.

New registrations were also up year-on-year in Adelaide, which rose 1.2%, PerthPerth, TAS Perth, WA, which saw an increase of 15.1%, and Brisbane, which increased by 11.4%. In Darwin, new listings were up 5.7% month over month, but down 1.2% from the previous 12 months.

PropTrack economist Angus Moore said with these numbers in mind, the market could be described as strong in the first half of 2022.

“There has been a steady pace of new listings, with more new listings nationwide in the first half of the year than in any other year since 2015. Although conditions are expected to ease a bit as we continuing to weather the generally calmer winter period, activity has remained robust in many markets,” he said.

Mr. Moore believes that the factors align for this steady trajectory to continue.

“While overall selling conditions have started to moderate after a very strong spring 2021 and early 2022, fundamental demand drivers remain strong, with low unemployment, wage growth expected to pick up this year and international migration that is coming back now,” he said.

“At the same time, buyers have had more choice of properties in recent months. The wave of new offerings hitting the market in the first half of the year, particularly in Sydney, Melbourne and Canberra, increased the stock available on the market and eased competitive conditions.

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An advertisement refers to a property available for sale.

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A listing refers to the agreement that gives an agent or broker the right to handle the sale of a property and receive a fee or commission for their services.

About the Author

Juliet Helmke

Based in Sydney, Juliet Helmke has extensive reporting and writing experience in business, technology, entertainment and the arts. She was previously an editor at the New York… Read More

June new listing activity bucks downward trends



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Last update: July 15, 2022

Posted: July 16, 2022