Spring fails to take off

Spring fails to take off

08 October 2012 by Staff Reporter 0 comments

Staff Reporter

The usual spring surge in property listings has yet to materialise, new data shows.

According to SQM Research, during September total stock on market came to 373,374 nationally – down 136 listings, month-on-month.

A number of capital cities recorded falls for September, including Canberra (-4.6 per cent), Darwin (-6.6 per cent), Hobart (-0.4 per cent), Perth (-3.3 per cent) and Sydney (-2.9 per cent).

However, regional areas helped pick up the slack from the capital cities, averaging out the levels of stock to produce the minimal national monthly change.

SQM Research has recorded rises in several regions, particularly northern Queensland and certain mining regions in north west Australia.

The lack of increased stock at the beginning of spring surprised managing director of SQM Research, Louis Christopher.

“To actually record falls in listings during the opening month of spring is unusual," he said. "Either vendors have been withdrawing their properties at a faster rate than new listings entering into the market, or stock is being sold at a quicker rate. Or a combination of both.”

Adelaide experienced the largest monthly increase, rising by 2.1 per cent during September 2012, to come to a total of 17,091.

Darwin recorded the largest monthly decrease, falling by -6.6 per cent during September 2012 and coming to a total of 1,198.

Staff Reporter

The usual spring surge in property listings has yet to materialise, new data shows.

According to SQM Research, during September total stock on market came to 373,374 nationally – down 136 listings, month-on-month.

A number of capital cities recorded falls for September, including Canberra (-4.6 per cent), Darwin (-6.6 per cent), Hobart (-0.4 per cent), Perth (-3.3 per cent) and Sydney (-2.9 per cent).

However, regional areas helped pick up the slack from the capital cities, averaging out the levels of stock to produce the minimal national monthly change.

SQM Research has recorded rises in several regions, particularly northern Queensland and certain mining regions in north west Australia.

The lack of increased stock at the beginning of spring surprised managing director of SQM Research, Louis Christopher.

“To actually record falls in listings during the opening month of spring is unusual," he said. "Either vendors have been withdrawing their properties at a faster rate than new listings entering into the market, or stock is being sold at a quicker rate. Or a combination of both.”

Adelaide experienced the largest monthly increase, rising by 2.1 per cent during September 2012, to come to a total of 17,091.

Darwin recorded the largest monthly decrease, falling by -6.6 per cent during September 2012 and coming to a total of 1,198.

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