Today, reader AxeIF posted a comment linking to the latest RPData Industry Market Wrap, which provides the following tables showing the Advertised Stock on Market and the Number of Properties Advertised for Rent.
Turning to the Stock on Market first, you can see that the number of homes for sale nationally is up by 35% on the same period last year, with Victoria leading the way (up 70%). Note also Queensland’s stock levels, which are the highest in the nation at 81,199 or 28% of the national total:
The situation is less extreme with regards to rental properties, with the number of homes advertised for rent up 6% nationally on the same period last year, with Victoria again leading the way (up 14%):
Overall, it’s a poor set of numbers that are likely to work against a near term house price recovery.
