Ray White Now - July 2024 | Page 10

This month , listing numbers are falling across all capital cities , with a total decline of 43 per cent . Over the past year , Brisbane has been the least affected by these decreasing rates , showing a 10.8 per cent reduction , despite a 38.1 per cent drop this month alone .
Melbourne ’ s changing land tax legislation has prompted many investors to exit the market , resulting in an annual listing decline of only 18.6 per cent . In contrast , Perth ’ s market remains tightly held , putting pressure on potential buyers . Perth ’ s listings fell by 43.3 per cent this month to 2,497 , representing a 46 per cent decrease over the year .
Movement of new listings within capital cities
Count of new listings per capital city in June and their percentage change over the past month and past year
Capital City Listing Count Month on month change Year on year change
Brisbane 4,183 −38.1 % −10.8 %
Hobart 235 −41.3 % −13.9 %
Melbourne 7,309 −45.5 % −18.6 %
Adelaide 1,330 −39.5 % −22.1 %
Sydney 6,220 −42.5 % −28.7 %
Canberra 517 −53.8 % −35.3 %
Darwin 167 −48.8 % −41.2 %
Perth 2,497 −43.3 % −46.0 %
Capital cities combined 22,458 −43.0 % −25.3 %
Listing figures include industry-wide listings and Ray White listings Source : Ray White