In the January IPN Regional Listings Index report, the Australian regional property listing landscape reveals interesting shifts in market supply. Across December, the aggregate number of listings across all regions dropped by -3%, whilst capital cities saw an overall decrease of -14%. State-level fluctuations continue to vary considerably, indicating a more complex supply dynamic.
Regional Listings Index Report Highlights
New South Wales
Greater Sydney dropped by -20%, compared to the month prior, whilst the rest of NSW saw a -3% decrease. Tumut – Tumbarumba saw the biggest increase of +10%, followed by Great Lakes at +5%. Wagga Wagga, which saw an increase of +12% in November, saw a drop of -1%.
Victoria
Greater Melbourne listings saw a decrease of -13%, whilst VIC held steady with an increase of +2%, which softened after the +8% increase in November. The biggest increase in listings can be seen in Maryborough – Pyrenees at +9%, Gippsland – South West at +8%, whilst Barwon – West, Gippsland – East, Moira and Glenelg – Southern Grampians, all saw an increase of +7%.
Queensland
Month on month, regional Queensland listings decreased by -8%, whilst Greater Brisbane dropped by -13%. Whitsunday and Burnett were the only areas to see an increase at +1%, respectively. All other areas saw decreases.
Other states
Western Australia saw a -6% decrease in listings across regional areas, as well as a -9% decrease in the Capital. SA saw a -15% decrease in the Capital and a -2% decrease in regional areas, whilst, in TAS, Greater Hobart identified a -3% decrease, however in regional areas, there was a 4% increase.
ACT saw a large decline of -17%.
Seasonality has a part to play in the drop in listings, and January is expected to show a similar trend until Australia Day, when the markets start to be more active. The upcoming months are crucial for observing whether these trends in property listings continue to diverge, stabilise, or pivot in a new direction.