More evidence has emerged that 2022 is likely to see an increase in for-sale properties. Predictably, the number of new property listings fell sharply between November and December, as many vendors held off selling until the new year.
However, the number of new listings in December 2021 was 2.4% higher than the same time the year before, as the chart from SQM Research shows. That national result hides different conditions in the different capital cities.
New listings increased in Sydney, Perth, Canberra and Darwin over the year, while they fell in Melbourne, Brisbane, Adelaide and Hobart.
An increase in for-sale properties tends to put downward pressure on property prices, as buyers have more choice and don’t have to compete as hard to buy their dream home.
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