October Sees 3.9% Rise in Property Listings – Opportunities Ahead?
Australia’s residential property listings saw a big jump in October 2024. New data from SQM Research shows total listings nationwide rose by 3.9%, reaching 253,327 properties. Perth led the way with a 10% increase, followed by Canberra (8.4%) and Adelaide (6.5%). Melbourne, Hobart, Sydney, and Brisbane also saw increases, though Darwin was the only city where listings dropped, down by 2.7%.
Over the past year, the total number of listings has grown by 4.2% nationwide. Sydney and Melbourne saw large increases, with listings up 12.7% and 12.1% respectively. Canberra had the biggest jump at 19.3%, while Hobart was up 9.5%. On the other hand, listings dropped in Brisbane, Perth, Adelaide, and Darwin.
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What This Means for Property Investors
For investors, the increase in listings brings both challenges and opportunities:
More Choices in High-Listing Areas: Cities like Perth and Melbourne have more properties available. This could mean more options for investors who want to buy in these areas.
Better Bargaining Power: With more properties on the market, investors may have a better chance to negotiate good deals. In a market with many listings, sellers may be more open to price negotiations.
?Long-Term Potential in Low-Supply Areas: Cities like Brisbane, Perth, Adelaide, and Darwin have seen fewer listings than last year. This could mean a stronger demand for rental properties in the future. Investors in these areas might see long-term growth if supply remains limited.
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Adapting to Each City’s Market: Each city has its own trends, so it’s important for investors to adjust their strategy based on the location. For example, in areas with more listings, investors may find good rental income opportunities, while in areas with low listings, there might be potential for strong price growth over time.
?As we move toward the end of 2024, understanding these listing trends can help investors make better decisions. Whether focusing on buying opportunities in high-listing areas or planning for future growth in tighter markets, investors who stay informed and flexible in their approach will be better prepared for Australia’s changing property market.
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What This Means for Property Investors For investors, the increase in listings brings both challenges and opportunities: ? More Choices in High-Listing Areas: Cities like Perth and Melbourne have more properties available. This could mean more options for investors who want to buy in these areas. Better Bargaining Power: With more properties on the market, investors may have a better chance to negotiate good deals. In a market with many listings, sellers may be more open to price negotiations. ? Long-Term Potential in Low-Supply Areas: Cities like Brisbane, Perth, Adelaide, and Darwin have seen fewer listings than last year. This could mean a stronger demand for rental properties in the future. Investors in these areas might see long-term growth if supply remains limited. Adapting to Each City’s Market: Each city has its own trends, so it’s important for investors to adjust their strategy based on the location. For example, in areas with more listings, investors may find good rental income opportunities, while in areas with low listings, there might be potential for strong price growth over time.