The number of Australian residential property listings rose slightly during February, recording the most modest monthly rise during this period since January 2009.
Nationally, stock on market came to a total of 346,289 – a monthly increase of 1.3%.
The count of national listings suggests a residential market that is in a moderate up tick. Normally, listings jump in each February followings its hiatus in the holiday season.
However, this year there was only a modest rise in stock level. That would suggest to me that vendors are in no rush to sell and existing stock is being absorbed at a quicker rate than usual.
- Total online residential listings increased during the month of February, recording a rise of 1.2% and coming to a total of 346, 289.
- This figure represents a decrease of -3.3% when compared to the corresponding period of the previous year (February 2013).
- Sydney recorded the highest monthly rise in listings of all capital cities, increasing by 13.1% during February 2014 and coming to a total of 22,715.
- Hobart recorded the most substantial monthly decrease in stock levels, falling by 3.4% during February 2014 and coming to a total of 4,587.
- Darwin was the capital city to record the highest yearly increase in stock levels, climbing 16.1% since the corresponding period of the previous year (February 2013).
- Sydney has once again recorded the most substantial yearly decrease in stock levels, falling by -16.1% since the corresponding period of the previous year (February 2013).
That said, material increases occurred in Sydney (+13.1%) and Melbourne (+6.8%), which is in line with the standard seasonal increases recorded in February.
On a yearly basis, stock levels are down in most localities as can be expected, with Sydney continuing to lead the capital cities with the most substantial yearly decrease: -16.1%. Conversely, stock levels in Darwin have risen 16.1% since February 2013 – the only capital city to record a yearly increase in listings.