Listings take a dive
The number of listings hit an unusual low in September, suggesting buyers are snapping up available properties.
Unsold properties nationally decreased by 2.4 per cent during the month, defying the historical trend of a bump in listings heading into spring, according to SQM Research.
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SQM managing director Louis Christopher said the results signalled rapid buyer interest.
“The falls recorded in September are abnormal as listings normally rise at the start of spring,” he said.
“It implies the market remains strong, particularly on the east coast of Australia with buyers swooping on stock, often before the properties are formally listed for sale.”
Sydney saw the most substantial fall, with listings decreasing by 6.9 per cent in the month.
Canberra decreased by 4.3 per cent, Perth by 3.4 per cent, Melbourne by 3.0 per cent and Brisbane by 2.4 per cent.
Other cities saw more moderate drops, with 1.1 per cent in Hobart and 0.9 per cent in Adelaide.
The only city to record a rise was Darwin, with a bump of 0.2 per cent.
