Total property listings are continuing to fall with an 8.8% drop in June.

SQM Research figures show that despite the drop, listings are still 1% higher than at the same time last year, which it says shows a marginal easing of tight market conditions over the longer term. Listings are down in every capital city across the month, with the biggest declines in Melbourne, which is down 12%, followed by Adelaide, down 10.5% and Sydney, down 10.3%.

Over the course of the year, listings are up in Perth, Sydney, Adelaide, Canberra, and Hobart. Perth listings year on year are up by 23.5%. 

Hotspotting has recognised for some time now that the heat and demand have come out of the Perth market after two years as a market leader for price growth. SQM Research managing director, Louis Christoper, says the data highlights a cooling in listing activity as winter sets in. “The flipside to this is that winter is generally a period where it is a good time to sell as buyers are still out in the marketplace, yet there is less competition between sellers.”