Figures released by SQM Research reveal that the level of residential property listings around the nation plunged during the month of June, with national stock levels decreasing by -5.3% and coming to a total of 358,882.
Year on year, the country also witnessed a substantial decline in stock, falling by -5.4% nationally, with every capital city recording yearly decreases.
Sydney’s Stock Levels Reach 2009 Lows:
[sam id=34 codes=’true’]Whilst the majority of capital city monthly decreases can be attributed to seasonal influences and the fact that we came through five weekends in May to four weekends during June, Sydney’s monthly decline of -14.6% in stock appears to have gone beyond these attributes, as we begin to witness stock levels for this capital city that match those seen in 2009.
This being the case – combined with Sydney recording a -23.1% yearly decrease in stock, SQM Research believes that we may now be approaching a point where there is a shortage of residential sale listings in the Sydney Market.
“I believe that overall, the national housing market still remains well supplied with current listings, however Sydney is turning out to be a clear exception. When you consider the long term chart, Sydney is approaching the 2009 lows and this fits with other measurements indicating a strengthening housing market for that capital city.”
Key Points
• Total online residential listings decreased during the month of June, recording a fall of 5.4% and coming to a total of 358.882.
• This figure represents a decrease of -5.4% when compared to the corresponding period of the previous year (June 2012).
• Darwin was the only capital city to record a monthly rise in listings, increasing by 0.4% during June and coming to a total of 1,290.
• Sydney recorded the most substantial monthly decline in stock levels, falling by 14.6% during June and coming to a total of 23,707.
• No capital cities recorded yearly increases in stock levels, however Canberra recorded the most modest decrease, falling by 0.8% since the corresponding period of the previous year (June 2012) and coming to a total of 3,673.
• Sydney has recorded the most substantial yearly decrease in stock levels, falling by 23.1% since the corresponding period of the previous year (June 2012).
………
Subscribe to SQM Research’s weekly newsletter and peruse a our free research data at SQM Research
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.
Need help listening to michael yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
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.
You may also like...
How to negotiate on agent’s selling costs
'The number of properties for sale around Australia plunged in June –Louis Christopher' have 1 comment
July 5, 2013 Oliver Finney
Being knowledgeable about the ins and out of the real estate industry is very important when planning to buy. Knowing also the common errors that most buyers commit is very important. One logical step you can take is hiring the services of real estate agents. You can actually locate reliable ones over the Internet such as at http://www.mcgrath.com.au/. Remember that knowing the perfect time for you to buy your home is very important.