January Listings are Down for 2018
With January being typically the slowest month of the year, it is not unexpected to see a listings decline.
This simply means that the total number of listings, across the board, has fallen from December to January
The following table from Naked Real Estate’s blog helps to illustrate this.
Across the country we have seen a decline in monthly property listings. However, this has been averaged between capitals with quite extreme ranges. For instance, Darwin fell only 1.3% and Perth, only 2.1%. Comparatively, Melbourne fell a whopping 13.9%. This is a major difference and reflects quite a respectable month for Darwin, Hobart and Perth. However, Melbourne has seen a dramatic fall that will continue to temper growth throughout the year.
Expectations for 2018
January is always the slowest month of the year for listings due to the Summer break. However, the substantial capital falls between Sydney and Melbourne will have an impact on these markets.
This does look like a continued balancing act between the capital cities of Australia. With Sydney and Melbourne having had such a strong few years, the other capitals need to balance out. Sydney and Melbourne outstripped other capitals so heavily that this change was naturally going to occur.
For 2018, with interest rates staying low and not looking to move, lending is looking expansionary and therefore modest growth is expected. 2018’s growth will be pushed forward by cities such as Perth, Canberra and Brisbane. Whereas Sydney and Melbourne, will likely see continued slowing growth. Although, they are likely to turn back into the positive growth sector, they will likely stay slow for most of the coming year.
Hopefully, this gives you a good overview of the January data and 2018 scope.
If you did want to take a look back over our 2017 reflection and predictions for 2018, look no further.