Property for sale listings continue to decline, says REA

By Maria Gil · · 1 min read
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Property listings on realestate.com.au reached a historic low in June 2021 when they fell by 3.3%, according to the latest REA Insights Listing Report.  

In June there were 19.7% fewer active listings compared to June 2020.

“A fall in active listings in June highlights the overall shortage of properties for sale with insufficient new listings being added to meet market demand,” said Cameron Kusher, REA Group’s director of economic research.

“Last month’s double-digit percentage fall in new listings for sale in Sydney and Melbourne can be partially attributed to COVID-19 lockdowns. While activity in Melbourne has since rebounded, Sydney remains in lockdown and market activity has subsided further.“

Housing supply versus demand

Overall, the supply of available houses in the market cannot keep up with demand in the last 12 months.

The number of available properties newly listed in June 2021 fell by 5.5%, making it the third consecutive month of decline. The decrease of newly listed properties was felt all across the nation, but the capital cities experienced a greater drop than regional markets. 

However, in comparison to last year, REA found there were more property listings available for sale in capital cities than in regional markets.

“It is reasonable to expect competition for properties for sale will remain strong pushing prices higher in markets where activity remains heightened despite the seasonal slowing,” said Kusher.

If you are thinking of buying a home, check out Mozo’s home loan guides.

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