Spring selling season kicking off in earnest

Adam Smith 5 October 2016

house auctionSpring selling season is kicking into gear, with listings rising across capital cities.

New figures from SQM Research show capital city property listings up 4.3% in September, bringing listings 2.4% higher than the same time last year.

Sydney saw the largest jump in listings, up 10.3% from the previous month and 13.2% from the same time last year. Every capital city saw a rise in listings over the month. Hobart was the only capital city to see a yearly decline, with listings falling 10.9% from the same time last year.

The jump marks a slower start to the traditional spring selling season. While auction clearance rates have remained high, particularly in Sydney and Melbourne, auction volumes had been substantially lower.

Asking prices have also risen across most capital cities. Melbourne saw the most significant rise, as asking prices for houses rose 15.1% from last year and unit asking prices rose 4.8%. Perth and Darwin both saw declines in asking prices. The asking price for Perth houses fell 5.0% from the same time last year, and the asking price for units fell 4.3%. Asking prices for Darwin houses fell 6.9% over the year, while unit asking prices saw a marginal decline of 0.8%.

Hobart, meanwhile, saw a huge jump in the asking price for units. While the asking price for houses in the city rose a healthy 6.1%, unit asking prices rose 25% year-on-year.

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