Stock on market drops east, rockets west

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By Leith van Onselen

SQM Research has released its stock on market figures for the month of April, which registered a 2.8% monthly reduction in the number of homes for sale, with for sale listings also down by 0.1% over the year (see below table).

ScreenHunter_125 May. 05 16.54

As shown above, the key bubble markets of Sydney and Melbourne led the annual decline, whereas the mining bust jurisdictions of Perth and Darwin registered big increases.

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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.