National residential property listings decreased in January 2021 by 2.9%, falling from 272,999 in December 2020 to 265,116.

Compared to 12 months ago, listings were down by 10.5%.

All capital cities experienced decreases in property listings over the month except for Perth which had a 0.1% increase in listings.

The largest decrease was in Melbourne of 4.7%.

Year-on-year listings also show larger declines for most capital cities with the exception of Sydney and Melbourne, both recording increases of 4.5% and 21.1%, respectively.

Stock on Market Table:

City
January 2020 Total
December 2020 Total
January 2021 Total
Monthly change %
Yearly change
%

Sydney
24,062
26,038
25,149
-3.4%
4.5%

Melbourne
31,058
39,475
37,617
-4.7%
21.1%

Brisbane
29,231
26,643
25,720
-3.5%
-12.0%

Perth
22,425
21,478
21,501
0.1%
-4.1%

Adelaide
15,916
13,410
13,391
-0.1%
-15.9%

Canberra
3,617
3,350
3,252
-2.9%
-10.1%

Darwin
1,518
1,281
1,308
2.1%
-13.8%

Hobart
2,134
1,647
1,628
-1.2%
-23.7%

National
296,161
272,999
265,116
-2.9%
-10.5%

New Listings (30 days)

Nationally, new listings (30 days) decreased by a 24.46% over the course of January with 16,234 less properties on the market.

Hobart’s new listings decreased by a significant 33.28%, followed by Canberra which decreased by 26.10%.  Sydney recorded the lowest decrease in new listings of 2.42%.

Days on Market Tables:

January 2021

City
< 30 days
30-60 days
60-90 days
90-180 days
> 180 days
Total Listings

Sydney
8,144
2,955
3,382
4,669
5,999
25,149

Melbourne
10,787
6,460
5,245
4,921
10,204
37,617

Brisbane
5,710
4,758
4,135
4,759
6,358
25,720

Perth
4,351
3,495
3,245
4,409
6,001
21,501

Adelaide
3,103
2,509
2,073
2,398
3,308
13,391

Canberra
923
483
368
508
970
3,252

Darwin
138
130
129
170
741
1,308

Hobart
443
366
131
227
461
1,628

National
50,137
38,816
30,565
44,503
101,095
265,116

 

December 2020

City
< 30 days
30-60 days
60-90 days
90-180 days
> 180 days
Total Listings

Sydney
8,346
4,999
2,797
4,205
5,691
26,038

Melbourne
14,152
7,231
4,057
3,875
10,160
39,475

Brisbane
6,668
5,873
3,259
4,527
6,316
26,643

Perth
4,963
4,118
2,652
3,941
5,804
21,478

Adelaide
3,938
2,653
1,479
2,076
3,264
13,410

Canberra
1,249
561
331
359
850
3,350

Darwin
164
161
92
154
710
1,281

Hobart
664
201
120
187
475
1,647

National
66,371
39,912
25,137
39,650
101,929
272,999

 

January 2020

City
< 30 days
30-60 days
60-90 days
90-180 days
> 180 days
Total Listings

Sydney
8235
2075
2973
4463
6316
24062

Melbourne
8435
3543
4630
6335
8115
31058

Brisbane
5688
3542
4758
7038
8205
29231

Perth
4155
2219
3188
5111
7752
22425

Adelaide
3444
2241
2375
3309
4547
15916

Canberra
826
330
526
735
1200
3617

Darwin
122
68
88
201
1039
1518

Hobart
461
288
299
406
680
2134

National
48049
28164
33809
56644
129495
296161

Commentary

The month of January traditionally records falls in properties listed for sale as the market is still in a summer holiday mode.

This year was no exception. However, when we consider the number of new listings compared to January 2020, there was a material rise in nearly all cities.

This finding is consistent with the observed early start to the auction market over January and February.

Asking Prices

Capital City asking prices declined by 0.7% for houses but increased 0.2% for units, over the month to 2 February 2021.

The new year commenced with unit asking prices at $565,600 and houses $996,800.

Compared to a year ago, the capital city asking prices posted increases of 2.0% for houses but a decline of 2.1% for units.

Over the month, Melbourne and Canberra were the only capital cities to record decreases in both house and unit prices – 0.4% and 0.2% respectively for Melbourne and 0.2% and 0.7% for Canberra house and unit prices.

Perth, Adelaide and Darwin all recorded increases in both house and unit prices over the month to 2 February 2021.

Sydney recorded a decline in house prices of 1.7% but an increase in unit prices of 0.2%.

Brisbane also recorded decline of 0.3% in house prices and an increase of 0.6% in unit prices. Hobart recorded an increase of 0.6% in house prices and decline of 0.5% in unit prices.

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