The level of residential property listings around the nation tapered off during April, Figures from SQM Research have revealed.
The numbers show that national stock levels have fallen by -2.7 per cent, coming to a total of 345,034.
No capital cities recorded rises in stock levels over the month of April, however Darwin revealed the smallest fall in listings, decreasing by -1.0 per cent.
In contrast, Sydney revealed the largest decline during April, falling by -9.7 per cent. SQM Research says that it appears stock is being absorbed in Sydney faster than the national average, which reflects a stronger market pick-up in the city.
Louis Christopher of SQM Research said the results are influenced by seasonal factors.
“It is becoming clear now that these results of late have been more influenced by seasonality rather than cyclical factors,” he said.
“That suggests to me that the forces of demand versus supply in the national housing market are reasonably balanced right now. Of course, each city has its own story to tell.
"For example, Sydney is clearly in recovery mode, while I strongly believe Canberra is in a downturn.”