Market awash with listings
Residential property listings are up by close to 50 per cent compared to last year, new research has revealed.
National property listings rose 3.8 per cent in March 2011, compared to February, reaching 356,603, according to SQM Research.
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Year on year the figure represented a 47.6 per cent increase in stock levels.
Melbourne recorded the largest month on month increase with listings swelling by 9.2 per cent.
Year on year, Melbourne also recorded the largest increase in stock levels alongside Darwin; both capitals seeing property listings climb 60.9 per cent.
Both month on month and year on year, all capital cities experienced an increase in stock levels, SQM Research showed.
Louis Christopher, managing director of SQM Research said the result was indicative of a slowing property market.
“This week’s stock level results reveal a market that continues to deteriorate in most capital cities and metropolitan regions,” he said.
