Sydney’s New Home Listings Drop
The NSW capital’s market has seen a rapid decline due to COVID.
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The number of new home listings has dropped by nearly 20% in July. The sharp dip comes as vendors put plans to sell on hold amid surging COVID case numbers.
The data, from SQM Research, shows home listings under 30 days have plummeted the most in areas where harder restrictions were imposed. However, sellers in other parts of the city have also retreated from the market.
Parramatta saw the total listings fall 33.4%, Liverpool 30.7%, Canterbury Bankstown 29% and 21.8% in western Sydney.
By comparison, areas such as the upper north shore saw listings down 26%, eastern suburbs 23% and inner west 22.6%.
Other state capitals across Australia saw mixed results with Brisbane – which went into lockdown last Saturday – growing 2.6% over the month.
Elsewhere, Darwin posted a 41.4% drop in new listings while Adelaide fell 7.2% and Perth 4.2%.
More positively, Melbourne saw new listings up 9.3% alongside Canberra’s 11.4% rise and a 27.6% uptick in Hobart.
Year to date, total listings have declined 23.6% nationwide – Hobart the most affected with 36.7%.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Scheduled auctions fall to winter levels as vendors hold back on going to market
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Grand final fever and the long weekend have dampened scheduled auction activity this weekend, CoreLogic reports.
The number of homes scheduled for auction this weekend is set to halve, with 1,324 properties listed, marking the quietest week since mid June. Melbourne will experience the quietest week since Easter, CoreLogic data shows, with 223 homes prepared to go under the hammer. In Sydney, 805 properties are expected to go to market, the lowest number in seven weeks.
With long weekends in Queensland and South Australia, numbers are also down in Brisbane (111) and Adelaide (86), less than half the properties available for auction the previous week. It’s a less dramatic drop in Canberra, where 83 homes are scheduled for auction, down -22.4 percent on the previous week.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
