Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Drop in listings 'surprising', says analyst

15 September 2011 Reporter

Staff Reporter

A month-on-month fall in residential property listings during August was 'surprising', a property market analyst said.

Figures released by property research house SQM Research revealed that residential property listings fell during August, coming to a total of 362,793 nationally. This was 14,522 listings, or 3.8 per cent, lower than July 2011.

While all capital cities except Hobart experienced a monthly decline in listings for sale, when compared to the same period in 2010 listings are up 23.6 per cent.

Month-on-month, Adelaide recorded a 4.6 per cent decline in listings, Brisbane was down 5.5 per cent, Canberra dropped by 3.3 per cent, Darwin was 6.3 per cent lower, Melbourne eased 2.6 per cent, Perth dropped by 7.1 per cent, while Sydney fell 5.8 per cent.

“The results for August have been surprising,” said managing director of SQM Research, Louis Christopher. “We were expecting a rise in listings and instead we have had a noticeable fall. This still could be a seasonal effect and it also could be vendors withdrawing their properties on the hope of relisting during better market conditions.”

“Nevertheless, our base case here is that listings will rise during the spring selling season.

“If that were to not materialise or only rise marginally, this would be one signal to us that the peak in supply would be reached. For now, it is a wait and see situation and of course, monitoring other indicators on the demand side.”

Drop in listings 'surprising', says analyst
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Where is the biggest threat to agents in 2019?

3rd party lead generation companies
DIY models discounting sales commission
Prop-tech firms cutting out the agent value proposition
A yet unidentified proper disruptor – like Uber or Airbnb
None of the above. There is no threat.
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.