Residential property listing fell during September: SQM Research

Figures from SQM Research reveal that the level of residential property listings around the nation fell during September, with national stock levels down by -3.4% to 342,979.

Month on month, all capital cities recorded declines except Hobart, which rose slightly by 0.6%

Year on year, the country also recorded a decline in stock, falling by –3.7% nationally, with every capital city recording yearly falls, besides Darwin, which recorded a substantial yearly increase of – 8.9%.  

Sydney continues to take the lead in yearly declines with a staggering -17.6% decrease since September 2012.  

SQM Research is an independent property research house which specialises in providing accurate data to the property industry.  

The company believes Sydney will lead the housing market recovery, as it’s poised for 15-20% increases in house prices (as outlined in the recent edition of SQM’s Housing Boom and Bust Report 2013/2014).  

SQM Research, however, point out that, during September, two weekends of events affected the market place – the federal election in the first week and the AFL Grand Final in the last. During the federal election in August 2010 there was also a dip in stock levels, making it a likely contributor to a decline in stock during the spring selling season.  

SQM managing director, Louis Christopher says, “no doubt September’s supply was affected by the election. Normally, listings rise for that month due to the start of spring selling campaigns.  

‘’What this means is that the level of online residential sales listings will lift in October and November, due to seasonality but also in part due to vendors waiting for the election to be over.’’