July monthly residential listings up nationally: SQM Research
July had the largest monthly increase in residential listings nationally since 2010, with the number of properties for sale hitting 348,903 - up 4.2% when compared to July 2014 and an increase of 3.8% from June 2015.
According to SQM Research, the largest house price rises are in Sydney and Melbourne and are the greatest since 2008.
SQM Research managing director Louis Christopher believe the results do represent an indication that the measures undertaken by APRA in slowing investor demand are now having an impact on the market.
"At this stage it is too early to call the magnitude of the impact, however it is likely that the measures (which SQM still regards as moderate) will slow the rate of dwelling price inflation recorded, rather than create a price correction," Mr Christopher said.
Listings fell in Melbourne by 10.3% year on year, with the number of properties falling to 37,179.
Sydney house prices went up 1.5% and 0.4% for units over July.
Median Perth house prices fell 4.2% over the year, and units 1.2%1.2% for units. Darwin unit asking prices are down 7.9%
