{"id":42925,"date":"2023-05-10T10:19:25","date_gmt":"2023-05-09T22:19:25","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=42925"},"modified":"2023-05-10T10:29:38","modified_gmt":"2023-05-09T22:29:38","slug":"new-listings-are-down-17-1-per-cent","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/new-listings-are-down-17-1-per-cent\/","title":{"rendered":"New listings are down 17.1 per cent"},"content":{"rendered":"

PHOTO: Ray White Chief Economist Nerida Conisbee.<\/strong><\/p>\n

In April, new listings were down 17.1 per cent with Sydney<\/a> and Melbourne<\/a> seeing the biggest falls.<\/h3>\n

A look at listing authorities shows the end in the decline does not look close.<\/p>\n

Listing authorities are the step prior to the listing being placed on a real estate portal.<\/p>\n

\"Zed<\/a><\/div>\n
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MELBOURNE\u2019S flashiest real estate agent has set up shop on the Gold Coast | WATCH<\/a><\/h2>\n<\/header>\n<\/div>\n

It is when the vendor signs with the agent but the property has not yet been advertised.<\/p>\n

While our tracking of new listings is across all agencies, it is only possible for us to track listing authorities across Ray White businesses.<\/p>\n

With Ray White selling around one in six homes, it is a decent enough sample for us to get an indication of what the next month holds for new listings.<\/p>\n

Unfortunately it doesn\u2019t look particularly positive.<\/p>\n

Listing authorities are down 17 per cent over the past month.<\/p>\n

\"Australian<\/a><\/div>\n
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Sydney and Melbourne experience biggest property HIT in 30 years | WATCH<\/a><\/h2>\n<\/header>\n<\/div>\n

Compared to the same time last year, they are down 21 per cent.<\/p>\n

The states with the biggest falls are NSW and WA \u2013 in both states, listing authorities are down well over 25 per cent.<\/p>\n

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Since the start of 2023, Australian house prices have risen by 1.6 per cent.<\/strong><\/em><\/p>\n

In April however, we saw them draw back slightly, with the biggest falls occurring in Sydney and Melbourne.<\/p>\n

While house price growth is being driven by a shortage of stock and high population growth, it is being moderated by the cost of finance.<\/p>\n

\"Gina<\/a><\/div>\n
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While price growth tends to draw out more sellers, last week\u2019s\u00a0interest rate rise\u00a0could\u00a0delay their return.<\/p>\n

It looks like we may be in for a pretty low volume winter.<\/p>\n

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