In our November IPN Regional Listings Index report, the Australian regional property listing landscape reveals interesting shifts in market supply. The aggregate number of listings across all regions rose by 3% MoM, whilst capital cities saw an overall elevation in listings of 5%. State-level fluctuations continue to vary considerably, indicating a more complex supply dynamic.
Report Highlights
New South Wales
Greater Sydney grew by 5, compared to the month prior, whilst the rest of NSW saw a 6% increase, down 1% compared to September. The most significant increases were in Young –Yass +20%, Orange +17%, Moree - Narrabri +17% and Griffith – Murrumbidgee (West)+15%.
Victoria
Greater Melbourne stayed consistent MoM with an increase of 8%, whilst Regional Victoria saw a 6% uplift. The biggest increase in listings can be seen in Creswick– Daylesford – Ballan at +19%, Heathcote – Castlemaine – Kyneton at +16% and Surf Coast – Bellarine Peninsular at +12%.
Queensland
Month on month, regional Queensland listings saw a decrease from 0% in September to -1% in October, whilst Greater Brisbane saw an increase of 1%. Of the regional areas, the largest increases were Gold Coast – Hinterland at +9% and Mudgeeraba– Tallebudgera at 8%.
Other states
Western Australia saw a 2% increase in listings across regional areas, as well as a 2% increase in the Capital. SA saw a 3% increase across both the Capital and regional areas, whilst, in TAS, Greater Hobart identified a 7% increase, and regional areas a 5% increase.
Another month of substantial listing increases in ACT of +15% could further indicate a softening of property prices.
The upcoming months continue to be crucial for observing whether these trends in property listings continue to diverge, stabilise, or pivot in a new direction.