NEW home listings in Brisbane have surged 15 per cent in the past month, blitzing the national average rise of 3.6 per cent across capital cities.
Market analysis firm RP Data found new advertised housing stock in Brisbane was 14.9 per cent higher than a year ago, with Adelaide the only other capital city to notch a double digit rise (of 12.2 per cent).Three capital cities saw new listings fall in the month to October 19 compared to a year ago, including Melbourne (-2.3%), Darwin (-4.2%) and Canberra (-9.3%).
Brisbane was working off a lower base, with 4,670 new residential listings coming online in the month, compared to Sydney’s 8,882 properties.
RP Data research director Tim Lawless said the spring season provided a timely litmus test for the housing market.
However, he says the question is whether transaction numbers will rise to eclipse last year’s recent high, or has the market moved the peak in buyer demand.
“We are already seeing listing numbers ramping up at a faster rate than last year, the big question is whether buyer numbers will match the pace of listings to absorb this additional supply,” Mr Lawless said.
Queensland has a massive few weeks of auctions on its hands in the lead-up to Christmas, with analysts expecting numbers to peak in late December.
RP Data housing market specialist Robert Larocca said auction volumes were up across the capital city markets.
“The last week in October is a big week for auctions right across the nation, and in Brisbane, but there are likely to be larger ones in December,” Mr Larocca said.
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