Consumer sentiment is rebounding while the increase in auctions has signalled a positive upturn in the housing market. Data from CoreLogic shows the number of new ‘for sale’ listings in the capital cities increased by 0.7% in the four weeks to 20 September. Sydney, where the number of new listings rose by 382, recorded the highest increase. Perth also enjoyed an uplift of 286. Listings in Brisbane were up by 235, Adelaide up 137, Hobart up 29 and Canberra up 25. While transaction activity is gradually improving nationally, Perth stands out as a market primed for recovery.
For the four weeks ending 20 September, Perth and regional WA were the only dwelling markets where new listings volumes exceeded the numbers in the equivalent period of the previous year.
The results signify that vendors may be more con dent in selling their property. The exceptions were Melbourne, where transaction activity is understandably constrained by stage 4 restrictions, and Darwin, where listing numbers are generally lower and more volatile.