Sydney leads national decline in stock on market in January: SQM
All cities experienced the typically expected monthly drop in sales stock, with
Nationally property listings fell by 4.3% to just below 369,000, with SQM managing director Louis Christopher telling Property Observer the market volumes have most likely peaked.
For the year to January listing are up 13.5% led by a 33.3% increase in
Christopher says seasonality is the biggest factor in the January decrease, though the drop was bigger than expected.
Source: SQM Research
“It does convince one that stock levels have peaked,” Christopher says.
“At the start of 2009, buyers quickly took out the low-hanging fruit – the same thing is happening now,” he says.
Christopher says February data will be crucial.
“If there is no pick-up in listings or a just a marginal increase, then it will indicate that something cyclical is happening.
“Then it will be clear to us there is something else is going on in the market, such as listings being absorbed by an increase in buyer activity,” he says.
Christopher says
Christopher says not much should be read into the 8.3% month-on-month drop in
According to SQM,