New listings up, total listings down in Townsville property market – realestate.com.au

News Corp Australia Network

The property at 2 Third St, Railway Estate, is newly for sale for $529,000 neg. Picture: realestate.com.au

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Homebuyers saw an increase in fresh properties to the Townsville market in September, however the total number of homes available to buy was down.

The September PropTrack Listing Report showed new listings on realestate.com.au in the Townsville region were up 4.5 per cent in September but down 12.3 per cent compared to the same time last year.

Total listings were also down 1.3 per cent month-on-month and 16.7 per cent year-on-year.

PropTrack senior economist and report author Anne Flaherty said in regional Queensland as a whole, new listings fell 6.6 per cent in September and 8.5 per cent since September 2022.

Total listings were also down 1.3 per cent for the month and 10.3 per cent for the 12 months to September.

PropTrack senior economist and report author Anne Flaherty. Picture: Supplied

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In Brisbane, new listings were down 7.3 per cent month-on-month and 4.2 per cent year-on-year.

Total listings declined 0.1 per cent in September and 14 per cent since September 2022.

“With fewer homes for sale, competition remained high,” Ms Flaherty said.

“In September, the median time taken for a property to sell fell to the lowest level seen in 18 months.

“Year-on-year, prices grew in Brisbane (up 5.8 per cent to a median of $762,000) and in regional Queensland (up 4.9 per cent to $614,000) due to the restrained supply amid strong buyer demand.”

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Nationwide, new listing numbers also fell in September.

“After an unseasonably busy end to winter, the number of homes newly listed for sale dipped slightly in September compared to August, due to the impacts of school holidays and a long weekend in a number of states,” Ms Flaherty said.

“Even so, it was a busier start to spring, with new listings picking up from 12 months ago and sitting 4.5 per cent higher nationally.”

The home at 33 Tahlia Cct, Mount Louisa, is newly listed for offers in the low $500,000s. Picture: realestate.com.au

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Ms Flaherty said an improvement in seller sentiment was a key driver behind the annual rise in the number of new listings.

“This time last year, sentiment among both buyers and sellers was declining, with the market in the midst of one of the most aggressive series of interest rate hikes ever undertaken by the Reserve Bank,” she said.

“Interest rates are now largely predicted to have reached their peak, having held steady since July.

“This has supported a recovery in sentiment which, according to realestate.com.au’s Residential Audience Pulse, has recorded a significant jump from the start of the year.

“While spring is typically the most popular time of year to sell a property, it isn’t uncommon for fewer new listings to be seen in September compared to August, with this occurring during five of the past 10 years.

“October, in contrast, has consistently recorded a monthly increase in for sale listings over each of the past 10 years, an outcome that may be repeated this year with strong selling conditions in most markets.”