Figures released by SQM Research reveal that the level of residential property listings around the nation picked up slightly during the month of August, with national stock levels increasing by 2.6% and coming to a total of 360,414.
The monthly pick up in online sales listings can be mostly attributed to the fast approaching Spring selling season, which SQM Research believes will see an influx of stock onto the market, particularly post- election.
Potentially with more confidence instilled in the national economy, vendors will be encouraged to place their properties on the market.”
Year on year, the country still recorded declines in listings, down by –1.0% nationally, with every capital city besides Brisbane and Darwin recording yearly decreases.
After some very tight sales listing conditions in the mid-year, Sydney’s property market recorded a jump in stock during August of 9.1% to 25,311 properties for sale. This rise may reveal that vendors are beginning to make their move.
In turn, the city of Darwin, which has long been recording particularly low stock levels, recorded a 12.4% increase in listings for the month. However, it should be noted that seasonally Darwin tends to get a strong lift in listings during the dry season.
The Melbourne property market was the only city to record a fall in listings during August. Stock levels fell by 3.6% to 45,052 properties on the market.