How much stock is on the market in your capital city? A state-by-state analysis: SQM
The amount of stock on the market declined in all capital cities in April compared with March, according to SQM Research. Of course, the month of April contained the Easter long weekend, Anzac Day and school holidays.
The biggest decrease in stock on market was in Sydney, which recorded a 12.1% decrease month on month.
"It is becoming more evident that the number of real estate listings has reached its peak," says SQM managing director Louis Christopher.
But Christopher warns that just because stock levels have peaked, it does not mean that prices are rebounding.
“Now while stock levels maybe be peaking, that doesn’t mean prices have suddenly stopped falling," Christopher says.
"As the ABS data illustrates, house prices were falling in the March quarter and we think they are still falling as we speak. I’d like to see a sustained decline in stock levels before calling a real bottom in prices. But overall, the worst now is likely behind us with this current downturn.”
The amount of stock currently on the market in Melbourne, according to SQM Research. This is down 4.7% from last month but up 11.2% from this time last year.
The amount of stock currently on the market in Sydney, according to SQM Research. This is down 12.8% from last month and down 8.2% from this time last year.
The amount of stock currently on the market in Brisbane, according to SQM Research. This is down 6.9% from last month and down 10.4% from this time last year.
The amount of stock currently on the market in Perth, according to SQM Research. This is down 5.5% from last month and down 14.1% from this time last year.
The amount of stock currently on the market in Adelaide, according to SQM Research. This is down 2.5% from last month but up 5.8% from this time last year.
The amount of stock currently on the market in Hobart, according to SQM Research. This is down 2% from last month but up 29.3% from this time last year.
The amount of stock currently on the market in Canberra, according to SQM Research. This is down 7.2% from last month but up 8.7% from this time last year.
The amount of stock currently on the market in Darwin, according to SQM Research. This is down 6.8% from last month and down 28.6% from this time last year.