Midyear state of affairs: A closer look at the country’s markets
With market conditions changing at varying degrees across the country, seven experts from Property Investment Profession...
Property listings have increased sharply throughout the spring selling season, in what is good news for buyers.
According to RP Data's latest property pulse, the current volume of stock on the market is now higher than during the depths of the global financial crisis.
Over the past five years, spring has been the season to record the greatest number of listings while autumn tends to be the busiest season for property sales.
RP Data's research analyst Cameron Kusher said during spring 2010, the number of properties available for sale rose sharply at a time when housing finance volumes trended lower since September of last year, and when property value growth has been flat since June of this year.
For the week ending August 2010, the total number of listings nationally has increased by 16.5 per cent. Across the capital city markets, listings have climbed 21.9 per cent higher.
"Currently 75,655 properties are advertised for sale nationally which is the highest volume since RP Data began tracking listing volumes in 2007," Mr Kusher said.
Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.