Property market update: Perth, May 2022
Perth continued to outperform its bigger capital counterparts in May, as the city closed up the autumn season with a sol...
Listing numbers across the country are plummeting, indicating the market is tipped in favour of vendors, according to SQM Research.
Data from SQM shows national stock levels have fallen by 3.6 per cent in July.
The biggest drop was in Adelaide, where listing numbers fell by 7.8 per cent.
Sydney were not far behind, with declines of 5.5 per cent and 5.9 per cent respectively.and
All other markets saw a moderate decrease in listings except Darwin, where stock levels rose by 3.3 per cent.
SQM Research director Louis Christopher said shrinking listings indicate a seller’s market.
“Lower stock levels do have the tendency to hint at an active market, just as the climbing stock levels experienced 2010 pointed to a slump in Australian property, and SQM Research is most certainly of the opinion that the current property market remains in favour of sellers,” Mr Christopher said.
“The national housing market overall remains buoyant with real estate listings being absorbed at a fairly fast pace and buyers moderately outnumbering sellers.”
However, he warned the rate of turnover may be slowing as listings decline at a slower rate than previous months.
“Sydney in particular, which was recording yearly stock level declines in between 15 per cent and 25 per cent, is now only recording a yearly decline of -8.7 per cent,” he said.