From the media release:
Sydney recorded the largest rise in listings; rising by 7.6% or 1,966 properties. That stated, Sydney listings are down by 15.7% or 5170 properties compared to March 2012.
All other cities recorded monthly gains in the range of 2% to 6%. However it should also be noted that nearly all cities except for Melbourne have recorded declines in available real estate listings compared to March 2012.
Louis Christopher, Managing Director of SQM Research says “It is our opinion that differing from the recovery witnessed in 2009, the upturn in the Australian property market being experienced at present is a much slower, more normal cyclical uplift. Without the stimulus of a first home buyers grant (as given in 2009) this recovery is based fundamentally on interest rates cuts spread over a longer period of time and an economy recording moderate growth rates”.
“This view fits with why in this current recovery stock levels are not in a state of rapid decline as what was recorded in the first half of 2009.”
