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Surge In Listings

Surge In Listings

The number of properties listed for sale is on the rise, according to new data from SQM Research.

It has recorded a 5.5% increase in the past month in total listings throughout Australia with 252,757 properties now being offered for sale.

Sydney had the biggest increase of 8.4%, followed by Melbourne which was up 7.6%, Brisbane 7.1% and Canberra, 7%.

While all capital cities had an increase in listings in May, the report shows that the results are mixed over the past 12 months. Listings are higher in Sydney, Melbourne, Canberra and Hobart than they were at the same time last year but are down in all other capital cities.

Listings in Perth in particular are down 23.4% from what they were in May 2023.

SQM Research managing director, Louis Christopher, says the market is simply starting to return to more normal, historical listing levels.

While listings are rising, asking prices for properties are not declining according to Christopher.

“Asking prices also continue to rise, albeit at a moderate pace for our larger capital cities,” he says.

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