From SQM Research comes the news that the number of homes listed for sale nationally increased by 1.5% in August to be up 3.0% from a year ago:
From the media release:
Canberra, Sydney and Melbourne all recorded substantial monthly increases – 8.8%, 5.9% and 5.9% respectively. Canberra’s large monthly increase may well signify a downturn for that market as federal budget spending is cut.
Year on year, the increase in stock levels has been slightly more extensive, with a national increase of 3%. Hobart experienced the highest rise in listings of the capital cities with a 24.1% increase. In stark contrast, Darwin has taken a plunge since the same month last year, recording a -23.3% decrease in stock levels since August 2011.
Louis Christopher, managing director of SQM Research says, “Increasingly the market is segmented. It is becoming difficult to discuss just one national housing market and in my opinion, that will be to base line story for the remainder of 2012.”
Key Points
- Total online residential listings recorded a 1.5% monthly increase during August 2012, coming to a total of 373,510.
- This figure represents a 3% increase when compared to the corresponding period of the previous year (August 2011).
- Canberra experienced the largest monthly increase, rising by 8.8% during the month of August 2012 and coming to a total of 3,758.
- Perth experienced the largest monthly decline, falling by -1.8% during the month of August 2012 and coming to a total of 18,053.
- Hobart has recorded the largest yearly increase, rising by 24.1% since the corresponding period of the previous year (August 2011).
- Darwin has recorded the most extensive yearly falls, decreasing by-23.3% since the corresponding period of the previous year (August 2011).
