Abnormal drop in listings for early spring: SQM Research

Over September, the number of residential property sales listings went against the seasonal trend and actually decreased, according to SQM Research.

Sydney was ahead of the pack, with the biggest decrease on a monthly and yearly basis.

Nationally, unsold properties totalled 339,344 in September, which represented a 2.4% month on month decrease, and a 1.1% year on year drop.

Monthly decreases in stock were recorded in every capital other than Darwin. The number of unsold properties on the market in Darwin was up 26.4% year on year.

Managing director of SQM Research Louis Christopher said spring usually sees an increase in stock.

“It implies the market remains strong, particularly on the East Coast of Australia with buyers swooping on stock, often before the properties are formally listed for sale,” he said.

He believes that Sydney has led the recovery, and that Darwin is undergoing a correction.

Source: SQM Research