Property Stock Levels Creep Up Again Slightly- Louis Christopher

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.

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 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.

[sam id=34 codes=’true’] 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.

Melbourne 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.

 “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.”

Key Points

• Total online residential listings increased during the month of August, recording a rise 2.6% and coming to a total of 360,414.
• This figure represents a decrease of -1.0% when compared to the corresponding period of the previous year (August 2012).
• Darwin was the capital city to record the highest monthly rise in listings, increasing by 12.4% during August and coming to a total of 1463.
• Darwin has also recorded the highest yearly increase in stock levels, climbing by 8.4% since the corresponding period of the previous year (August 2012).
• Melbourne was the only capital city to record the most substantial monthly decline in stock levels, falling by 3.6% during August and coming to a total of 45,052.
• Sydney has once again recorded the most substantial yearly decrease in stock levels, falling by 15.0% since the corresponding period of the previous year (August 2012) and coming to a total of 25,311.

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