The PropTrack Listings Report June 2022 found new listings dropped by 3.1% nationally in June.
Despite this, new listings were up 8.5% year-on-year across the country, making it the busiest June for new listings since 2011.
Almost all capital cities, apart from Darwin, experienced an increase in new listings compared to the same time last year.
In regional areas, new listings picked up in June rising by 2.5% to be 12.9% higher than last year.
Angus Moore, PropTrack economist and report author, said property markets across the nation experienced a boom in new listings to what is usually a slower period.
“The property market has had a strong first half of 2022. There has been a brisk pace of new listings, with more new listings nationally across the first half of the year than during any year since 2015,” Mr Moore said.
“While conditions are likely to slow a little as we continue through the typically quieter winter period, activity has remained robust in many markets.
“Though selling conditions broadly have begun to temper after a very strong spring 2021 and early 2022, fundamental drivers of demand remain strong, with unemployment low, wages growth expected to pick up over this year, and international migration now returning.”
SQM Research data for June also shows a slight reduction in listings over the month, albeit with the number of older listings (more than 180 days) trending up.
Nationally, listings older than 180 days were up 1.6% through the month, and most pronounced in Canberra (+14.6%).
"This reveals the slowdown in the housing market driven by lower buyer demand. Going forward we expect July to record similar trends of lacklustre activity and more rises in older listings," said Louis Christopher, SQM Research's managing director.
"At this stage we can safely state there is no panic in the market. The downturn remains orderly [and] ... vendors are adjusting their market expectations down, particularly for the Sydney housing market.
"Meanwhile cities still recording strength include Adelaide and to a lesser extent, Brisbane, and Canberra. All other cities are now showing signs of weakening."
How individual cities performed
Here's how PropTrack recorded listings across the eight capital cities.
Sydney
New listings in the harbour city were down 8.1% month-on-month as property markets entered the usual quieter winter period.
However, Sydney saw the busiest start to winter since June 2015, with new listings up 1.3% compared to the same time last year.
In regional NSW, new listings were up 1.1% month-on-month which in turn, increased new property listings to be 15.9% higher than a year ago.
Suburbs that saw the biggest increase in new listings: St Leonards 121%; Tahmoor, 108%; St Ives, 96%; Rosebery, 95%; and Sydney, 94%.
Melbourne
Melbourne’s new listings decreased by 14.6% month-on-month in June which nonetheless was 0.5% higher than the same period last year.
In the state’s regional areas, property listings were down by 3.6% month-on-month.
Suburbs that saw the biggest increase in new listings: Donnybrook, 245%; Weir Views, 240%; Mickleham, 192%; Darley, 182%; and Fraser Rise, 132%.
Brisbane
Australia’s third-largest city had a strong start to the winter season with new listings up 8.6% compared to May.
This is Brisbane’s busiest June since 2011.
Regional QLD also experienced a strong start, with new listings up 11.5% month-on-month.
Suburbs that saw the biggest increase in new listings: Regents Park, 350%; Cornubia, 200%; Waterford, 158%; Boondall, 118%; and Raceview, 106%.
Adelaide
The city of churches experienced a downfall of 9.4% in new property listings in June compared to May.
Even so, it was a fast start to winter with the busiest June for new listings since 2011.
For those looking to get into the Adelaide property market, choices may be limited as the total stock of properties for sale remains a third lower than pre-pandemic levels.
Suburbs that saw the biggest increase in new listings: Salisbury East, 90%; Parafield Gardens, 44%; Mount Barker, 42%; Prospect, 42%; and North Adelaide, 40%.
Perth
New listings in Perth declined in June by 4.1% in comparison to May.
However, the state saw new listings rise by 15.1% year-on-year which in turn, helped lift the total stock of properties for sale 4.7% compared to the same period last year.
Suburbs that saw the biggest increase in new listings: Greenfields, 133%; Claremont, 123%; West Perth, 120%; Mount Pleasant, 109%; and High Wycombe, 100%.
Hobart
Hobart experienced a decrease of 10% in new listings in June. However, it was the busiest June for the city since 2015.
The capital city recorded the highest surge in new listings compared to its counterparts with 44.4% year-on-year.
Suburbs that saw the biggest increase in new listings: Kingston, 120%; Glenorchy, 80%; Rokeby, 50%; Howrah, 21%; and Lenah Valley, 18%.
Darwin
Darwin’s housing market had a busier start to the winter period than usual with new listings in June up 5.7% month-on-month.
It was the only capital city to experience a decrease in new listings (-1.2%) compared to the same period last year.
Suburbs that saw the biggest increase in new listings: Insufficient data.
Canberra
After a quiet couple of months, Canberra’s property market picked up in June with new listings up 9.4% compared to May.
As a result, new listings were up 32.1% compared to last year which saw the capital city experience its busiest June for new listings on record.
Suburbs that saw the biggest increase in new listings: Greenway, 155%; Casey, 90%; Harrison, 77%; Franklin, 55%; and Dickson, 50%.
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