Residential listings increase in Sydney

Residential listings increase in Sydney

by 0 comments

Staff Reporter

Sydney recorded the largest monthly increase in residential listings in February across the major cities, according to new data by SQM Research.

According to the latest stock on market report, residential listings remained steady last month with a national total of 368,123, while Sydney recorded a 10.5 per cent rise coming to a total of 31,833 properties.

This figure represents a difference of only 387 listings since January 2012.

After two consecutive monthly declines, it appears that stock levels have stabilized during February, with Sydney and Canberra being the only capital cities to record a substantial increase in sales stock.

“It is more evidence that stock levels have been peaking, particularly for the cities of Perth and Brisbane which having been recording some signs of a recovery on other measurements,” the managing director of SQM Research Louis Christopher said.

“Overall we are cautious, perhaps a little more cautious than at the start of the year, given the lackluster start to the auction season and the rise in interest rates by the major banks, which we believe has dented sentiment towards real estate.”

Year-on-year, stock levels have recorded a 7.7 per cent national increase – a modest rise in comparison to past months which can be attributed to not only a slight decrease in stock but also to the fact that the nation was already experiencing significant increases at this point last year, making the comparison between now and the corresponding period of the previous year sizeably less extreme.

Staff Reporter

Sydney recorded the largest monthly increase in residential listings in February across the major cities, according to new data by SQM Research.

According to the latest stock on market report, residential listings remained steady last month with a national total of 368,123, while Sydney recorded a 10.5 per cent rise coming to a total of 31,833 properties.

This figure represents a difference of only 387 listings since January 2012.

After two consecutive monthly declines, it appears that stock levels have stabilized during February, with Sydney and Canberra being the only capital cities to record a substantial increase in sales stock.

“It is more evidence that stock levels have been peaking, particularly for the cities of Perth and Brisbane which having been recording some signs of a recovery on other measurements,” the managing director of SQM Research Louis Christopher said.

“Overall we are cautious, perhaps a little more cautious than at the start of the year, given the lackluster start to the auction season and the rise in interest rates by the major banks, which we believe has dented sentiment towards real estate.”

Year-on-year, stock levels have recorded a 7.7 per cent national increase – a modest rise in comparison to past months which can be attributed to not only a slight decrease in stock but also to the fact that the nation was already experiencing significant increases at this point last year, making the comparison between now and the corresponding period of the previous year sizeably less extreme.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
Tim Foote on why quality over quantity is good for business

In this episode of Secrets of the Top 100 Agents, host Tim Neary talks to Belle Property’s Tim Foote, who placed number 34 in this year’...

View all podcasts

How difficult is it to maintain a good work/ life balance?

Very – if I’m having balance my competitors are working
Not – I schedule the time into my calendar in advance
A little – It’s scheduled, but something always crops up
Work/ life balance – what’s that?
Do you have an industry update?