Hobart and Melbourne continue to record yearly falls: SQM
Residential listings fell 0.8 percent over March from February according to SQM Research, who found Hobart and Melbourne recording considerable yearly falls.
Canberra recorded the largest monthly fall in stock levels, down 6.1 percent during March 2016.
SQM managing director Louis Christopher said real estate listings were very steady over the course of March, with the decline in Canberra noted.
"Canberra's decline is yet more evidence the market there has now turned the corner.," he said.
"We also note the ongoing decline in listings in Hobart, which is also reflective of a recovery in the nation’s south. We also note that Hobart recorded rises in asking prices for the month.
"Over the past month, the capital city average for asking prices has increased 6.2 percent for houses, and 5.7 percent for units, with year-on- year results revealing Sydney median asking prices have risen 8.0 percent for houses and 9.4 percent for units compared to this time last year. Melbourne also experienced yearly changes with median asking prices for houses climbing 12.4 percent for houses, and 4.0 percent for units."