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Property listings take a dive

By Staff Reporter
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The number of residential property listings across Australia fell during September, according to new data.

The latest figures by SQM Research reveal the level of residential property listings around the country decreased by 3.4 per cent, bringing the total to 342,979.

On a month-on-month basis, all capital cities have recorded declines, except Hobart which increased slightly by 0.6 per cent.

On a year-on-year basis, the national stock fell by 3.7 per cent, with every capital city recording yearly decreases apart from Darwin, which recorded an increase of 8.9 per cent.

Sydney continued to take the lead in yearly declines, with a significant 17.6 per cent decrease since September 2012.

SQM Research previously reported that Sydney would lead the housing market recovery with a 15 to 20 per cent increase in house prices.

Managing director of SQM Research Louis Christopher said: “No doubt September’s supply was affected by the election.

“Normally, listings rise for that month due to the start of spring selling campaigns.

“What this means is that the level of online residential sales listings will lift in October and November, due to seasonality but also in part due to vendors waiting for the election to be over.”

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