SQM Research’s Louis Christopher finds vendors in no rush to sell

The national stock on market figure saw residential property listings rise only moderately last month, up 1.3%; however, Sydney and Melbourne recorded substantial increases, according to SQM Research.

SQM Research’s managing director Louis Christopher explained that the national figure shows just a moderate uptick, while on a yearly basis stock levels are down in most localities.

In Sydney, a 13.1% monthly increase and in Melbourne a 6.8% monthly increase were recorded, which Christopher noted is in line with usual seasonal increases seen in February.

Despite this, Sydney leads the capital cities with the most substantial yearly decrease, down 16.1% since February 2013. Meanwhile, in an opposite result, Darwin stock levels have risen 16.1% over this time. It’s currently the only city recording an increase in listings over the yearly period.

“Normally, listings jump in each February followings its hiatus in the holiday season. However, this year there was only a modest rise in stock level,” said Christopher.

“That would suggest to me that vendors are in no rush to sell and existing stock is being absorbed at a quicker rate than usual.”

Nationally, stock on market sits at 346,289.

See over page for table of full data

 



 

Stock on market data, February 2014

 

Darwin is recording the most prominent slump across the capitals, as Perth stays on par with January. Brisbane has been similarly stable.

Source: SQM Research

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Jennifer Duke

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

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