The number of properties being offered for sale is finally on the rise. Data from SQM Research shows residential property listings rose by 7.6% in November to reach 272,645 properties.

SQM Research Managing Director, Louis Christopher, says much of the rise can be attributed to unsold stock during the spring selling season rather than fresh activity. Year-on-year, total listings nationally increased by 10.4%.

The Perth market had the highest increase, with listings up 20% in November, followed by Adelaide, 16.7% and Hobart, 12.2%. Brisbane is up 8.5%, Canberra, 8.3%, Melbourne, 6.2% and Sydney, 4.7%. Darwin was the only capital city where listings declined – down by 2.7%.

Christopher says, clearly the housing market has slowed down, particularly in Sydney and Melbourne, where asking prices are down. “New listings are very likely to fall away in the lead-up to Christmas with the typical hiatus period occurring between December 23 to Australia Day,” he says.