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Sellers were in no rush to let go of their properties over the past month despite a significant surge in auction activity.<\/p>\n
The latest figures from SQM Research showed that total property listings declined by 6.5% in December, striking an annual decline of 20%.<\/p>\n
SQM Research managing director Louis Christopher said Sydney, Melbourne and Canberra have recorded the greatest falls in listings over the month, while Perth<\/a> reported the lowest decline.<\/p>\n \u201cWhile there was a significant surge in auction activity over December, total listings were down on a month-by-month and a year-by-year comparison,\u201d Mr Christopher said.<\/p>\n CoreLogic reported that over the third week of December, auction markets reported the second highest activity results since 2008.<\/a><\/p>\n Interestingly, listings in Perth increased by 1.9% on an annual basis, while listings in Darwin<\/a> jumped 18.7% compared to December last year.<\/p>\n In terms of new listings, there was a 29.5% monthly decline, with Sydney reporting the biggest drop.<\/p>\n However, new listings rose compared to last year, increasing the fastest in Darwin, Sydney, and Perth.<\/p>\n Mr Christopher said despite the difference in monthly and annual results, there remains an overall shortage of listings at the national level.<\/p>\n \u201cAs a result, vendors are in no panic at this point \u2014 indeed, they lifted their asking prices for the month,\u201d he said.<\/p>\n Over the past 30 days to 4 January, asking prices rose across the board, save for the unit segments in Melbourne, Adelaide<\/a>, and Darwin.<\/p>\n Overall, national asking prices for houses increased by 0.2% over the month and 19.5% from last year, while those for units declined by 0.3% from last month but increased by 10.4% from 2020.<\/p>\n \u201cUnless we have a surge in listings for the start of the property season in February it is looking like a very soft landing for the housing market in 2022,\u201d Mr Christopher said.<\/p>\n \u2014<\/p>\n Photo by @bradneathery on Unsplash.<\/p>\n<\/p><\/div>\n
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