According to the Media Release:
Whilst the majority of capital city monthly decreases can be attributed to seasonal influences and the fact that we came through five weekends in May to four weekends during June, Sydney’s monthly decline of -14.6% in stock appears to have gone beyond these attributes, as we begin to witness stock levels for this capital city that match those seen in 2009.
This being the case – combined with Sydney recording a -23.1% yearly decrease in stock, SQM Research believes that we may now be approaching a point where there is a shortage of residential sale listings in the Sydney Market.
Louis Christopher, Managing Director of SQM Research says, “I believe that overall, the national housing market still remains well supplied with current listings, however Sydney is turning out to be a clear exception. When you consider the long term chart, Sydney is approaching the 2009 lows and this fits with other measurements indicating a strengthening housing market for that capital city.”
