Vendors In No Rush To Sell, Leaving Property Stock Levels Low – Louis Christopher

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.

Key Points

  • 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).

More details:

vendors

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.

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Louis Christopher

About

Louis is recognised as one of Australia’s most respected and impartial research property analyst. He has extensive knowledge and experience of property and is regularly quoted in the media on his insights and is director of SQM Research.
Visit www.SQMResearch.com.au


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