Residential property listings surge in January: SQM Research

National residential property listings surged 2.2 per cent in January, according to figures released by SQM Research.

Numbers rose from 288,966 in December to 295,295 in January, an increase of just over 6,000 listings.

Figures were still 10 per cent down compared to last year however.

All capitals saw listings increase. The largest jump was in Sydney, whose listings grew by 5.1 per cent, closely followed by Hobart up 4.9 per cent.

SQM Research managing director Louis Christopher said the rise in listings was a surprise.

"The month of January traditionally records small falls in properties listed for sale as the market is still in a summer holiday mode however, the positive start in new listings shows vendors are now keen to sell and we could see further increases in the coming months.”

Asking Prices

Capital city asking prices dropped by 0.4 per cent for both houses and units in January.

The average asking price for a house is now $973,500, compared with $575,100 for units.

Housing asking prices are 5.5 per cent higher than they were this time last year, but unit asking prices are down 0.1 per cent.