Ensure you never miss an issue of the
real estate business bulletin
National listings rise in May

National listings rise in May

by Reporter 0 comments

Staff Writer

The number of residential property listings increased in May, with national stock levels rising by 4.8 per cent to a total of 379,158, according to SQM Research.

This figure represented a rise of 1.3 per cent compared to the same period last year.  

The research group's report noted that the increase was expected as the sales market typically bounces back after falling in April due to the Easter holidays.

However, there was still a market phenomenon occurring, as stock was struggling to move again. If the market was stronger, stock levels would be decreasing.

Managing director of SQM Research, Louis Christopher said residential property listings across the country, except Sydney, Perth and Darwin, remained elevated and stubbornly high. Melbourne was a prime example.

“After a period earlier this year where it appeared that stock was being absorbed, we now have a situation where there is even more stock on the market than we had this time last year,” he said.

“Auction clearance rates may well be higher in that city but vendors seem to be using this period to offload their properties.

“As stated previously, what we have ahead of us is only a modest to moderate housing recovery. While I laugh at the notion that house prices are falling, as stated by only one of my competitors, it is clear that in some metropolitan locations, the market has continued to fall, despite the interest rate cuts."

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
National listings rise in May
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?