Residential listings in all capital cities fell during August: SQM
The level of residential listings nationwide fell in all capital cities during August according to SQM Research.
The decrease was due to decreasing stock, according to SQM, who state August property levels fell 4.3 percentage points to 333,123 listings from July to August.
SQM Research managing director Louis Christopher said the latest indicators on listings and asking prices suggest the national housing market is not displaying any major uplift in activity at this point in time.
"It seems to be a very mixed housing market overall with the stronger markets being Melbourne and Hobart and the weaker markets being Perth and Darwin," he said.
"Hobart recorded the largest decrease for August with property listings falling 7.0 percent. Adelaide followed with a monthly change of 6.4 percent, based on 15,781 listings. Year-on-year Hobart property listings are down 10.7 percent compared to this time last year (August 2015).
"In contrast, Sydney property listings are up 12.3 percent from this time last year (August 2015).
"Falls in listings for August are not unusual for this time of year in the lead up to the spring selling season.
"We expect a bounce back to a rise in listings when it reports in September. "
