Listings suggest ongoing strength: Pete Wargent

SQM Research posted its listings figures which suggested "ongoing strength" in the housing market. 

Listings were somewhat higher in the month in Brisbane and Sydney (though miles below the peak of around 44,000 in the case Sydney). 

Melbourne's market continues a multi-year trend of tightening since 2012, while Hobart arguably has the tightest market of all of the capital cities.  

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Indeed, both Melbourne (-19.5 percent) and Hobart (-18.9 percent) have recorded enormous year-on-year declines in total stock listings. 

 

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Melbourne recorded a massive near 6 percent uplift for houses in the month, for a 22.6 percent annual increase. 

 

The Melbourne housing market is performing extremely bullishly, echoing out-performance in the local economy.

 

It's also worthy of note that the annual change in listings in resources cities has flattened, after increasing for a long period of time. 

 

PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.

His latest book is Four Green Houses and a Red Hotel.