INDUSTRY NEWSNEWS

Weekly listing results suggest hot summer market

Listing numbers continue to rise across Sydney, Melbourne and Brisbane, generating optimism that the positive spring market results will continue through summer.

This week sees the highest weekly number of properties listed for sale in 2021, with a three per cent increase in newly listed properties for sale, according to Domain’s weekly property report.

Many of those listings were located in Sydney’s outer suburbs and northern beaches. 

The Sydney areas with the biggest weekly lift in new listings were:

  • Hawkesbury
  • Richmond – Windsor
  • Botany
  • Dural – Wisemans Ferry
  • Pittwater

The report showed the market was starting to swing in buyers’ favour with the preliminary clearance rate at 71 per cent last weekend.

This figure is at a five-month low, demonstrating that more choice has reduced competition between buyers.

Sydney is set for another record weekend with more than 1100 auctions scheduled.

Victoria also saw a three per cent increase in newly listed properties for sale, with this week bringing the highest weekly number for the year.

With an increase in properties for sale, there’s now more choice for buyers, and less competition.

Melbourne’s areas with the biggest weekly lift in new listings include:

  • Darebin – South
  • Manningham – East
  • Monash
  • Stonnington – East
  • Essendon

According to the report, the preliminary clearance rate dropped to 69 per cent in Melbourne last weekend, breaking the eight-week run of clearance rates in the 70s.

Melbourne has 1500 homes set to go under the hammer this Saturday, while also experiencing an increase in the number of mid-week twilight auctions.

In Brisbane, sellers are keen to get deals done before the year ends, taking advantage of the hot market with a two per cent increase in newly listed properties for sale compared to last week.

In encouraging news for buyers, some of Greater Brisbane’s more affordable areas have seen the biggest weekly increase in new homes for sale, such as Ipswich inner and Strathpine. Other areas include:

  • Redcliffe
  • Narangba – Burpengary
  • Capalaba

Regional Queensland has also seen strong conditions as it records the highest volume of weekly new listings for the year, bringing good news for those feeling the pinch of housing affordability.

Preliminary clearance rates remain above 80 per cent for the third Saturday in a row. The past three weeks have provided some of the strongest clearances on record for Queensland, illustrating the success of homes going under the hammer at auction.

Brisbane has more than 100 homes set to go under the hammer this Saturday.

Listings have decreased in Perth and Adelaide compared to last week, however this comes off the back of record levels for the year from the week prior.

Adelaide’s property market is on track for a bumper season, according to Domain’s report.

Auction numbers continue to be strong with more than 160 scheduled. This weekend is likely to beat recent records to be the busiest Saturday ever.

The weekly number of new residential listings hitting the market decreased slightly following last week’s record high.

There were many areas that saw an increase in listings at a local level. Adelaide areas with the biggest weekly lift in new listings:

  • Prospect – Walkerville
  • Port Adelaide – East
  • Adelaide City
  • Marion
  • Mitcham

Last Saturday was the second highest auction listing day of 2021. The preliminary clearance rate was 80 per cent indicating the eagerness of buyers.

The high number of properties for sale is helping to temper frenzied competition between buyers, the report said.

Despite an eight per cent decrease week-on-week, new listings on the Perth market this week were the fourth highest for 2021.

This follows a surge in new listings over the previous six weeks, meaning there is still plenty of choice for buyers.

The areas with the biggest weekly increase in new homes are spread across varied price points, from the more expensive areas such as Cottesloe – Claremont, to more affordable areas such as Swan.

This is further evidence that for now, Perth’s market has something for everybody. Perth areas with the biggest weekly lift in new listings include:

  • Swan
  • Cottesloe – Claremont
  • Bayswater – Bassendean
  • Mandurah
  • Kalamunda

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Nicole Madigan

Nicole Madigan is Senior Journalist and Content Producer for Elite Agent.