In the January IPN Regional Listings Index report, the Australian regional property listing landscape reveals interesting shifts in market supply. Across January, the aggregate number of listings across capitals saw a decrease of -12%, whilst regions saw a decrease of -4%. Each state saw fluctuations in average listings, which highlights a more complex supply dynamic.
Regional Listings Index Report Highlights
New South Wales
Greater Sydney saw a decrease of -11% with the rest of NSW at -3%. Port Macquarie identified the largest increase MoM of +8%, with Clarence Valley also increasing at +6%. The largest decrease was Queanbeyan at -13%.
Victoria
Greater Melbourne saw a decline of -12% whereas the rest of VIC saw a -3% decline MoM. Loddon – Elmore identified the largest increase at +13%, whilst Mildura saw the largest decrease at -12%, closely followed by Shepparton at -9%.
Queensland
Greater Brisbane decreased by -13%, with the rest of QLD at -6%. Regionally, the largest increases came from Surfers Paradise and Broadbeach – Burleigh at +3%. Robina and Toowoomba identified the largest decreases at -17%.
Other states
Greater Perth identified a -13% decrease, whilst the rest of WA saw a -4% downshift. In SA, Greater Adelaide identified the largest decrease MoM of all capitals and regions at -23%, whilst the rest of SA sat at -3%. In TAS, Greater Hobart decreased by -7% whilst the rest of TAS held steady at 0%. The ACT also identified a decrease of -11%. On a regional level, SA’s Limestone Coast had an increase at +1%, the largest of all SA3 areas, whilst Barossa identified a decrease of -22%. In WA, East Pilbara (+4%) and Gascoyne (+3%) had increases MoM. Wheat Belt – North had the largest decrease in the state at -10%. The North East region of TAS had an increase of +4%, with South East Coast, Burnie – Ulverstone, Devonport and West Coast all increasing by +1%. The largest decrease in average listings came from Launceston at -7%.