Listings Remain Low
Listings continue to be an issue with new SQM Research analysis showing that residential listings dropped by 8.3% between May and June.
The drop equates to almost 21,000 fewer properties on the market. According to SQM Research, the deficit was felt across all major capital cities.
Adelaide experienced the biggest drop of 15.3% in the month, followed by Melbourne and Perth which were both down by 11.9%.
Listings were down by 9.6% in Canberra, 8% in Hobart, 7.7% in Sydney, 7.5% in Brisbane and 1.3% in Darwin.
SQM Research managing director Louis Christopher says the drop in listings is a result of the “standard winter lull effect”.
With listings down, demand is continuing to push prices higher according to Christopher with asking prices in the combined capital cities up by 0.5% in June.
He says the price growth is being driven by Brisbane, Perth and Canberra markets.
“While the housing market may be slowing in Sydney and Melbourne, the same cannot be said for these three cities,” he says.
Listings continue to be an issue with new SQM Research analysis showing that residential listings dropped by 8.3% between May and June.
The drop equates to almost 21,000 fewer properties on the market. According to SQM Research, the deficit was felt across all major capital cities.
Adelaide experienced the biggest drop of 15.3% in the month, followed by Melbourne and Perth which were both down by 11.9%.
Listings were down by 9.6% in Canberra, 8% in Hobart, 7.7% in Sydney, 7.5% in Brisbane and 1.3% in Darwin.
SQM Research managing director Louis Christopher says the drop in listings is a result of the “standard winter lull effect”.
With listings down, demand is continuing to push prices higher according to Christopher with asking prices in the combined capital cities up by 0.5% in June.
He says the price growth is being driven by Brisbane, Perth and Canberra markets.
“While the housing market may be slowing in Sydney and Melbourne, the same cannot be said for these three cities,” he says.