The largest lift in new listing numbers has been in Melbourne, where the rolling four-week count reached a recent low in the first week of September when only 3230 new listings were added to the market.
Since then, the trend in new listings has surged 48.5 per cent.
Recently eased restrictions on property inspections will have added to the lift in new listings, however there was already upwards movement prior to the announcement on September 17.
Figures show Melbourne’s new listings trends have been extremely volatile, falling sharply through each of the five lockdowns to-date, before rebounding quickly once restrictions were lifted.
Sydney hasn’t shown the same volatility as Melbourne; partly due to fewer lockdowns, but also because restrictions did not prohibit private one-on-one inspections.
As a result, the rolling four-week count of new listings has steadily risen since mid-August. Based on the count of new listings as at September 19, freshly advertised listings are up 31 per cent, but remain -3.9 per cent below the five-year average for this time of the year.
In Canberra, where residents are also navigating an extended period of lockdown, the new listings trend has increased by 28 per cent since finding a low last week.
Up until midnight on September 17, physical property inspections were prohibited in Canberra. With these rules now eased, it’s likely the new listings trend will ramp up more substantially.
At the opposite end of the spectrum are the cities that have mostly avoided lockdowns.
In Perth, the new listings trend is tracking 7.9 per cent above the five-year average and up 18.3 per ecent compared to the same period last year.
Darwin listings are rapidly trending higher—45.9 per cent above the five-year average,
while Adelaide’s new listings trend is 1 per cent above average.
Brisbane’s new listings trend was suffering from a lockdown hangover, which had dragged the rolling four-week count of listings lower.
While the hangover appears to be lifting, the upwards shift is mild and the count of new listings remains -3.8 per cent below the five-year average.
The new listings trend in Hobart has held consistently below average levels throughout 2021, which is likely a key contributing factor to the rapid rate of appreciation in housing values -up 24.5 per cent during the past 12 months and the highest annual growth rate of any capital city.
The new listings trend is ramping up but remained -9.6 per cent below the five-year average over the four weeks ending September 19.