Over the most recent four week period, the number of new listings added to the market has remained somewhat subdued with the traditional slow-down in listings experienced each year around Easter still included in the four week reporting period.
The number of new residential property listings are broadly still lower than they were one year ago.
Across the combined capitals, 24,535 new listings were added to the market over the four weeks ending 26 April 2015, -4.8 per cent lower than the 25,785 added at the same time last year.
Nationally, new listings are -8.9 per cent lower than last year, with 40,688 new homes advertised for sale over the most recent four weeks (3,952 fewer than last year).
As a result of the new stock that has been added to the market, the total number of residential properties currently available for sale across the combined capitals is 99,270 and 241,647 properties nationally.
While the total stock levels for the capital cities are lower than at the same time in 2014 (-3.9 per cent), the number of properties available Australia-wide is trending closer to the 2014 levels, with -2.2 per cent fewer residential properties available for sale, however, this number is largely being driven by re-lists, rather than new listings.
Melbourne, Brisbane and Adelaide are each seeing more new listings come onto the market than at the same time last year however, unlike Brisbane and Adelaide, Melbourne’s total stock available for sale is currently lower than it was at the same time last year.
In each other capital city, the number of residential properties entering the market is lower than over the comparable four week period at the same time last year.
Despite Sydney’s current strong performance in terms of capital growth, stock levels across the city are much lower than what has been observed historically.
Across the states and territories, total available stock levels are higher than at the same time last year in Queensland (66,158 compared to 63,773 last year), South Australia (17,227 compared to 16,954 last year) Western Australia (34,993 compared to 34,328 last year), Northern Territory (1,942 compared to 1,500 last year) and the Australian Capital Territory (2,194 compared to 2,067 last year).
In New South Wales, Victoria and to a lesser extent, Tasmania, the number of residential properties currently listed for sale is lower than over the comparable period 12 months ago.
SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
PREFER TO SUBSCRIBE VIA EMAIL?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.