In the July IPN Regional Listings Index report, the Australian regional property listing landscape reveals interesting shifts in market supply. Across June, the aggregate number of listings across both capitals and regions saw a decline of -1%. 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 an increase of +1%, whilst the rest of NSW saw a decrease of -1% for the second month in a row. Wollongong identified a +5% increase MoM, with Richmond Valley – Hinterland, Tweed Valley and Griffith – Murrumbidgee (West) all seeing increases of +4%. Queanbeyan saw the largest decrease at -6%.
Victoria
Greater Melbourne saw a decline of -1% whereas the rest of VIC held steady at 0%. Baw Baw identified the largest increase at +9%, closely followed by Colac – Corangamite at +8%. The largest decrease was in Mildura at -11%.
Queensland
For the second month in a row, both Greater Brisbane and the rest of QLD held steady, with 0% change. Port Douglas (+10%), Cairns – North (+9%) and Gladstone (+7%) saw the largest increases in average listings in June, whilst Buderim saw the largest decrease at -13%.
Other states
Greater Perth identified a -6% decrease MoM, whilst the rest of WA saw a -5% downshift. In TAS, both Greater Hobart, as well as the rest of TAS saw a -4% shift. In ACT, June saw a -3% shift in average listings compared to May. On a regional level, the largest increase in each state came from Fleurieu – Kangaroo Island (+6) in SA, Gascoyne (+9%) in WA and Central Highlands at +5% in TAS.
The upcoming months are crucial for observing whether these trends in property listings continue to diverge, stabilise, or pivot in a new direction.