In the October IPN Regional Listings Index report, the Australian regional property listing landscape reveals interesting shifts in market supply. Across October, the aggregate number of listings across capitals saw a decrease of -2%, whilst regions saw a decrease 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 +2%, with the rest of NSW at +1%. Southern Highlands identified the largest change at +11%, closely followed by Taree – Gloucester at +10%. Orange identified a decrease of -12%.
Victoria
Greater Melbourne saw a decline of -8%, with the rest of VIC at -3%. Campaspe identified the most significant increase at +8%, whilst the largest decrease was in Latrobe Valley at -22%.
Queensland
Both Greater Brisbane and the rest of QLD held steady with no change MoM. Robina (+16%), Buderim (+15%) and Mudgeeraba - Tallebudgera (+9%) saw the largest increases in average listings in October, whilst Surfers Paradise saw the largest decrease at -11%.
Other states
Greater Perth identified a +1% increase, whilst the rest of WA saw a -1% downshift. SA had a +3% increase in Greater Adelaide, with the rest of the state decreasing by -2%. In TAS, Greater Hobart held steady at 0%. The rest of TAS declined by -3%. In ACT, October saw a +8% uplift. On a regional level, the largest increase in each state came from Wheat Belt - South in WA at +8%, Barossa in SA at +16% and West Coast in TAS at +4%.
The upcoming months are crucial for observing whether these trends in property listings continue to diverge, stabilise, or pivot in a new direction.