An eight-year high - busiest January for new listings

Market Insights
2 years ago
1 minutes

2022 is proving to be an excellent year for the property market, with capital cities recording a 55.6% increase in new properties listed. This marks the busiest January for new properties in eight years. 

Demand for properties remains high across the country, and reports forecast a 6-9% price rise in 2022. This comes on the back of record price rises in 2021 of up to 25.2% increase in median house prices. 

Over the last year, Sydney house prices have risen over 24%, Melbourne 15% and Brisbane 20%. Property specialist Michael Yardney says, “Moving forward, property prices will continue to grow into 2022, but at a much slower pace, yet I predict that in 12 months time new record highs will be reached in property values around Australia.” 

Queensgate in Potts Point is one of Sydney's most exciting new listings. 

Of all the capital cities, Sydney’s property market was the standout performer recording a rise of 101.5%, more than double what they were in December 2021. The most significant increases were across the inner-city areas, with the eastern suburbs experiencing a 497% rise and North Sydney recording a 485% increase. 

The Melbourne property market has also had a busy start to the year, with new listings up 67.5% month-on-month, rebounding from the end-of-year slowdown. However, total listings went down 9.7% in the same period. Adelaide saw the next biggest increase of 49.4%, while Canberra was 37.6%. New listings in Brisbane increased 30.5%. 

For more market insights, news and lifestyle, click here.