market shifts hinder listings

New Listings Disappear Amid Market Shifts

December 2023 saw a dramatic 64.6% decline in new property listings compared to November, with Sydney experiencing a particularly sharp 65.9% decrease. Despite this monthly slowdown, which reflects typical seasonal patterns, the year recorded a 12% increase in national new listings compared to 2022. Total properties for sale dropped 21% month-on-month, while regional areas witnessed a 33.5% decline in listings. According to REA Group's Cameron Kusher, these shifts have created more favorable conditions for buyers, with increased inventory and longer decision timeframes. The evolving market dynamics signal important opportunities for various buyer groups entering 2024.

Market Pullback in December

While December traditionally experiences a seasonal slowdown, the property market saw an exceptionally sharp decline in new listings, plummeting 64.6% compared to the previous month.

Sydney led the downward trend with a 65.9% decrease, reflecting the broader pattern across capital cities.

Cameron Kusher from REA Group noted that despite the monthly decline, year-on-year figures showed a 12% increase in new listings, indicating a more active market compared to the previous year.

"The increased number of properties available throughout 2024 has provided buyers with more options," Kusher explained.

Total properties for sale decreased by 21% month-on-month, while capital cities experienced an average 61% reduction in new listings during December, maintaining a marginal 0.2% increase compared to the previous year.

Buyer Opportunities Expand

The surge in new listings throughout 2024 has created unprecedented opportunities for property buyers across the market. With year-on-year listings up 12% nationally, buyers have experienced greater choice and extended decision-making timeframes, as noted by REA Group's Cameron Kusher.

Market dynamics have shifted considerably, with the increased inventory leading to longer days on market and moderating price growth.

"The improved selection of properties has created better market conditions for buyers," explains Kusher, highlighting how the market has evolved to favor purchasers.

This trend has attracted diverse buyer groups, including first-home buyers, investors, and upsizers, according to Rachel Lawrie from Stadium Real Estate.

Despite a seasonal 64.6% drop in December listings, the overall yearly increase has maintained favorable conditions for prospective purchasers entering 2025.

Regional Property Trends

Regional markets experienced significant fluctuations in property listings during the final months of 2024, with notable variations across different areas.

Regional South Australia recorded a substantial 26.5% decline in new listings month-on-month, while also experiencing a 1.9% decrease compared to the previous year.

On a national scale, regional property markets saw new listings fall by 33.5% month-on-month, with total listings decreasing by 5.7% over the same period.

However, year-on-year figures showed a 4.7% increase in total regional listings, indicating broader market stability.

"The increased availability of properties has created more favorable conditions for buyers in regional areas," noted Cameron Kusher from REA Group, highlighting the shift in market dynamics that characterized regional property trends throughout 2024.

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