Melbourne bucks the listings shrinkage trend

Figures released by SQM Research reveal national residential property listings fell in March 2021 by 0.5% to 256,568 from 257,952 in February 2021. Compared to 12 months ago, listings are down by 16.7%, SQM's Louis Chistopher calculated. The largest monthly decreases were in Canberra, while Melbourne, Perth and Darwin bucked the national trend and recorded rises in listings. Nationally, new listings (30 days) (less than 30 days) rose 9.9% over the course of March to 84,030 properties on the market, to be up 10.7% over the year. Hobart new listings jumped the most in March, up by 14.7% though listings rose more than 10% for most cities. Sydney also recorded a robust rise of 9.2% in new listings as people seek to take advantage of the strong property market. Over the year, listing rose the most in Darwin, by 58.5%. SQM noted in a sign that absorption rates are increasing, and stock is clearing, listings over 180 days fell 5.6% for the month and are down 32.5% compared to the same time last year, with listings down in all capital cities.