Property listings spring back into action

Property listings spring back into action

The amount of property listed for sale is often an indicator of how well the market is performing, so it's not surprising that September's figures gave some cause for concern.

SQM Research revealed a 2.4 per cent month-on-month decline in listings across the nation's capitals and they were also down 1.1 per cent year-on-year.

However, the group has now released October data that is more indicative of what the market should be doing at this time of year.

Managing Director of SQM Research Louis Christopher described the September results as 'abnormal', but nevertheless remained hopeful that the market would remain strong.

The October figures show a 7.3 per cent month-on-month increase in listings and they were 4.9 per cent higher than 12 months ago.

The greatest rise in listings was witnessed in Darwin, as stock levels were up 31.9 per cent compared to the same period of the previous year, giving plenty of choice for buyers in the city.

Perth could be another option if you've managed to secure home loans for investors in Australia, not least because its stock levels marked an 18.9 per cent annual rise.

"The month recorded a rather large surge in listings, which were expected, given the slow start to the spring selling season," Mr Christopher commented.

"Despite the listings surge in Sydney, our information is telling us that the market remains very strong for now."
Sydney's stock levels have finally started to pick up after 12 months of declines, with its monthly increase registering at 21.9 per cent and its yearly rise at 4.6 per cent.

SQM Research urged analysts to wait until November data is released before making any ongoing assumptions about the property market and where it is heading.

With the official cash rate still at 2.5 per cent, there's every chance it will continue to encourage people to make property investments.

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