Sales activity is showing both residential and commercial searches for sales are trending upwards, with residential activity 15% higher than January 2020, and commercial 20% higher.
Residential rental searches have stabilized, though commercial lease searches have continued to trend upwards and now sit nearly 40% higher than January 2020.
Troublingly, new listings for both sales and rental properties are trending down – 2.9% for sales and 4.1% for rentals week on week. This time of year we would expect to see increases for properties listed for sale and if the downfall continues it will lead to higher asking prices.
Sales asking prices are gradually rising across the major markets, although the softening of the unit market can be seen emerging in the month on month percentage changes.
Demand for residential properties is stabilising at 40 points higher than the long term average, and rentals appear to be trending downwards slightly.
Overseas interest is generally stable, apart from interest from the United States which is showing an increase, and China which is trending downwards.
The combined data shows a stable and recovering market with indicators for an increase in house prices (not unit prices) due to lowered new listings.
Remember : this information shows high level trends and should not be used as a decision making tool for buying, selling or renting property. Good property decision making should commence with an analysis of your personal situation, and then detailed analysis of markets, suburbs and individual properties.
Residential property search activity – to purchase and to rent
Commercial property searches – to purchase (LHS) and to lease (RHS)
Residential demand – national (LHS) and by State (RHS)
Rental demand – National (LHS) and by State (RHS)
About the author
Debra Beck-Mewing is the Editor of the Property Portfolio Magazine and CEO of The Property Frontline. She has more than 20 years’ experience in buying property Australia-wide and has extensive experience in helping buyers use a range of strategies including renovating, granny flats, sub-division and development. Debra is a skilled property strategist, and a master in identifying tailored opportunities, homes and sourcing properties that have multiple uses. She is a Qualified Property Investment Advisor, licensed real estate agent and also holds a Bachelor of Commerce and Master of Business. As a passionate advocate for increasing transparency in the property and wealth industries, Debra is a popular speaker on these topics. She is also an author, podcast host, and participates on numerous committees including the Property Owners’ Association.
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Disclaimer – This information is of a general nature only and does not constitute professional advice. We strongly recommend you seek your own professional advice in relation to your particular circumstances.