2 . Continued lockdowns
While lockdowns are annoying , they don ’ t seem to be having much of a negative impact on house prices , particularly compared to what happened in 2020 in Melbourne . There are a number of reasons for this .
The first is that we are now in a very fast moving economy and house prices are moving quickly upwards . Prior to the July lockdowns , the number of properties for sale was increasing and early winter was the strongest on record for this metric . This increase in properties for sale was helping to calm price growth . The challenges with inspecting and selling properties as a result of lockdowns has put a hand brake on properties for sale .
The only city to see an increase in new listings was Melbourne but that was because that city also had a lockdown in June which had a bigger impact on listings than the July lockdown . Surprisingly , we saw a drop in cities not even impacted by lockdowns , perhaps driven by lower winter activity , or more negatively , a change in sentiment amongst sellers .
% CHANGE IN LISTINGS June 2021 to July 2021
20 % |
10 % |
0 % |
-10 % |
-20 % |
-30 % |
-40 % |
-50 % |
Sydney |
Darwin |
Adelaide |
Perth |
Brisbane |
Hobart |
Canberra |
Melbourne |
Source : Ray White Note : Includes all listings across all agencies
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