Here’s the national chart, which shows stock levels remaining elevated:
However, it’s a two-tiered market, with stock levels highly elevated in Melbourne, Adelaide, Hobart and Canberra:
Whereas stock levels are tightening in Sydney, Brisbane, Perth and Darwin:
According to SQM’s Managing Director, Louis Christopher:
“This is a strong result for a number of the capital cities. To actually record falls in listings during the opening month of spring is unusual. Either vendors have been withdrawing their properties at a faster rate than new listings entering into the market, or stock is being sold at a quicker rate. Or a combination of both.”
Twitter: Leith van Onselen. Leith is the Chief Economist of Macro Investor, Australia’s independent investment newsletter covering trades, stocks, property and yield. Click for a free 21 day trial.
