Stock on market fell sharply in September

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ScreenHunter_07 Mar. 20 20.55

By Leith van Onselen

SQM Research has just released its stock on market figures for September, which revealed an unusual 2.4% decline in for sale listings over the month, with listing levels also down 1.1% over the year:

ScreenHunter_91 Oct. 02 09.35

As shown above, Sydney has led the charge, with listings there down a massive 6.9% in September and by 10.2% over the year. By contrast, listings in Darwin were up 0.2% over the month and by 25.4% over the year.

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According to SQM managing director, Louis Christopher:

“The falls recorded in September are abnormal as listings normally rise at the start of spring. It implies the market remains strong, particularly on the East Coast of Australia with buyers swooping on stock, often before the properties are formally listed for sale.”

About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.