Knowing where listings are up and down can mean different things for buyers and sellers. Regardless, it’s still important to know where these suburbs are. The latest analysis from CoreLogic opens the lid on where the greatest swings, positive and negative, for listings are.
The latest Property Pulse by CoreLogic looks at suburbs with the largest listing changes for the last 12 months to May 2018 and analyses what the data means.
In New South Wales, the suburb of Winmalee in Sydney saw the highest change for the state, up by 47.6 per cent with 121 listings, while Tallwoods Village in regional New South Wales only saw 53 listings, down by 61.3 per cent.
Regional Victoria saw both ends of the listing spectrum, with Nhill seeing the largest rise for the state at 71.2 per cent with 125 listings, and Ballarat having the largest decline, down by 48.8 per cent with 193 listings.
According to Cameron Kusher, CoreLogic’s research analyst, the reason behind the highs was due to dwelling values declining.
“Overall, as the housing market is slowing, the number of properties for sale is climbing in Sydney and Melbourne, providing for less urgency among buyers and more time to negotiate,” Mr Kusher said.
“As stock levels rise, buyers become more empowered and vendors may need to rethink their pricing expectations and marketing strategies.”
Regional Queensland saw the highest rise in listings, with Clermont topping the list for the state with a rise of 80.3 per cent and 238 listings, which is the second-highest percentage increase and the highest number of listings. Meanwhile, in Brisbane experienced the highest fall for the state with a drop of 46.4 per cent and 89 listings.
Adelaide was home to both the highest rise and fall, with Fairview Park being the highest-rising suburb at a rise of 36.2 per cent and 79 listings, and Smithfield Plains being the highest-declining suburb at a fall of 45.1 per cent.
“Despite the mining downturn having been in place for a number of years, the list of suburbs in QLD and SA is dominated by mining regions… suggesting [that] owners may be more willing to sell as conditions level out or more distressed assets are hitting the market,” Mr Kusher said.
Overall, listings are on the way down in Tasmania. Moonah in Hobart saw the highest rise, up by 7.4 per cent with 116 listings. The next highest was Montello in regional Tasmania with a decline in listings, falling by 1.5 per cent with 64 listings.
The largest decline is Hobart’s Primrose Sands, declining by 60 per cent with 56 listings.
Katherine in regional NT saw the largest rise for the territory, and overall, seeing a rise in listings of 97.8 per cent with 182 listings. Its highest-declining, which is the lowest top decline across the states and territories, was Karama in Darwin with a decline of just 16.8 per cent.