Property market update: Listing numbers down but search continues to grow

Property market update: Listing numbers down but search continues to grow
Real Estate


Buyers are searching for homes on realestate.com.au. Picture: John Appleyard

Listing number are still down across realestate.com.au to start the year, but buyers searching for property is on the climb.

The premium areas of both Sydney and Melbourne continue to be popular with househunters, with the highest views per listing in these regions.

Only two more affordable suburbs made the top 10 list, with Watsonia in Melbourne and Baulkham Hills in Sydney both in demand.

MORE: Rents drop amid record vacancies

Home buyers dealt another blow

Development With Ben

Buyers are looking at the premium suburbs in Melbourne and Sydney. Picture: Sam Ruttyn

The data shows that the recovery is now flowing through to more affordable areas.

Sydney property prices grew an average of 6 per cent over the past three months and are projected to increase another 10 per cent over 2020, per CoreLogic data.

On top of this, for the second month running search traffic from China has increased. Traffic from Hong Kong and the UK has also jumped as foreign buyers keep an eye on the market.

Property auction, Woman hand holding gavel wooden and model house on wtite background, lawyer of home real estate and ownership property concept

The whole market is showing signs of recovering. Pic: iStock.

The rental market in Sydney continues to struggle, particularly in high development areas.

Renters currently have the upper hand due to a recent surge in property vacancies that left 3.6 per cent of all Sydney rental homes without a tenant, SQM Research data showed.



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