Sellers were in no rush to sell their properties over the past month, despite a surge in auction activity.

The latest figures from SQM Research show that total real estate supply fell 6.5% in December, representing a 20% annual decline.

SQM Research director Louis Christopher said Sydney, Melbourne and Canberra recorded the largest declines in quotes in the past month, while Perth reported the lowest decline.

“While there was a significant increase in auction activity in December, the total number of offers per month and per year decreased,” said Mr. Christopher.

CoreLogic reported that in the third week of December, auction markets reported the second highest activity results since 2008.

Interestingly, Perth quotes were up 1.9% year-on-year, while Darwin quotes were up 18.7% compared to December last year.

In terms of new listings, there was a 29.5% monthly drop with Sydney reporting the largest drop.

However, the number of new listings rose compared to last year, with the fastest growing in Darwin, Sydney and Perth.

Mr Christopher said that despite the difference in monthly and annual results, there remains a general shortage of lists at the national level.

“As a result, sellers aren’t panicking at this point — they’ve even increased their asking prices for the month,” he said.

In the past 30 days to January 4, asking prices rose across the board, with the exception of the unit segments in Melbourne, Adelaide and Darwin.

Overall, national asking prices for homes rose 0.2% during the month and 19.5% year-on-year, while unit prices declined 0.3% from last month, but 10 percent. .4% increased from 2020.

“Unless we have a wave of offers before the start of the real estate season in February, it looks like a very soft landing for the housing market in 2022,” said Mr. Christopher.

Photo by @bradneathery on Unsplash.

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