Stock on market fell in December

ScreenHunter_03 Jan. 30 13.18

By Leith van Onselen

SQM Research last week released its Stock on Market figures for the month of December, which revealed a sharp 8.5% drop in national residential listings over the month – which is typical for this time of year – with listings also 4.3% lower over the year:

ScreenHunter_734 Jan. 12 20.49

As shown above, there is some major divergence between markets, evident by a big 19.6% decline in annual stock levels in Sydney but an equally large 19.8% jump in listings in Darwin.

According to SQM Research:

Sydney continues to lead the way in terms of plummeting stock levels, recording a -19.6% fall in unsold properties on the market since December 2012, proving that stock is still being absorbed in this capital city at a faster rate than its counterparts…

SQM Research’s Asking Prices index has revealed that vendors of Sydney houses have lifted their asking prices by 14% over the last 12 months, further demonstrating the strength in the Sydney housing market recently…

Louis Christopher, Managing director of SQM Research says, “There were some rather large decline in listings over December, however that is to be expected for this time of year given how the housing industry shuts down over Christmas and much if January. Though the large year on year decreases in some cities such as Sydney are noted once again. Overall I see no evidence of any slowdown in the market itself with these numbers. And indeed our assign prices index recorded some very strong increases right throughout December. We are confident of a very strong market opening later this month.”

4 Responses to “ “Stock on market fell in December”

  1. The Patrician says:

    Housing policy failure writ large.

    Sydney has less than half the available housing stock of Melbourne!

    Welcome back Leith. I hope your break has recharged the batteries. Looking forward to lots of 2014 analysis.

  2. Bubbley says:

    Darwin’s situation will hopefully improve as there are a lot of high end apartments coming on line.

    How ever there is so much pent up demand here that I’m not expecting it to make much difference until 2015.

  3. SonicJaxx says:

    These sorts of figures will surely drive the market higher.

    • Bubbley says:

      “Yes, because property is the way wealth in this country – at least that’s what my Dad says and he made lots of money in property”

      (the average 30 year and up investment property speculator. )