Property listings tail off in December, but activity strong through to Christmas: SQM Research
The traditional Christmas property listing decline saw listings fall -7.9 per cent over December, down from 296,267 in November to 272,999, figures released by SQM Research show.
Sydney drove the decline, down -18.3 per cent, although their 26,038 total listings in December 2020 was 13.8 per cent higher than it was in December 19 (22,888).
Listings in Melbourne were a huge 30.5 per cent higher than in December 2020 compared to 2019. They have 39,475 listings on the market compared to 30,247 12 months ago.
New listings were unsurprisingly down by 17 per cent nationally in December, with 13,680 less new properties listed for sale.
Sydney’s new listings decreased by 41.8 per cent followed by Melbourne which decreased by 27.1 per cent.
Hobart was the only capital city that recorded an increase in new listings of 0.8 per cent.
Louis Christopher, managing director of SQM Research said it's no surprise to see listings decline at this time of the year.
“The month of December traditionally records falls in properties listed for sale as it is the start of the festive and summer holiday period," Christopher says, adding however that activity was strong all the way through to the last weekend before Christmas.
He said this was unusual and likely reflected a degree of catch up from the property inspection restrictions earlier in the year.
"Going forward I believe listings activity is going to remain strong in early 2021 but could weaken on the wind up of Job Keeper in March 2021.
"We believe Job Keeper has provided support to the market over 2020.”