WA leads rise in new residential property listings: RP Data

New residential listings are set to rise by double the national rate in WA with large increases also expected in Victoria and South Australia.

The RP Data new listings activity index, a guide to the number of residential dwellings that are being prepared for sale across Australia, shows a 4.9% rise for WA on a seasonally-adjusted basis followed by South Australia (4.2%) and Victoria (4.1%).

Nationally, new listings activity is rising 2.2% month-on-month according to the RP Data index for the week ending July 21.

The RP Data Listings Index provides a lead indicator for the number of residential dwellings that are being prepared for sale across the Australian housing market.

It shows a 75% correlation with the number of new listings about to enter the market.