From SQM Research comes stock on market figures for the month of June, which registered a seasonal 1.5% monthly decline in the number of homes for sale, with for sale listings up by 2.5% year-on-year (see below table).
As shown above, falls were recorded everywhere except Perth and Brisbane in June.
Over the year, for sale listings have risen everywhere but Hobart, with particularly strong rises recorded in Sydney and Brisbane.
Turning to asking prices, you can see that year-on-year growth is particularly strong in Melbourne and solid in Sydney, Brisbane and Hobart, but negative in Perth and Darwin:
Commenting on the results, Managing Director of SQM Research, Louis Christopher, noted:
“This is a fairly normal result for winter where, historically, property listings fall during the colder months. The one abnormality is Sydney, where we’re recording a massive year on year rise of 30%. If anything that just shows how frenzied the Sydney market was this time last year. However, Sydney is not oversupplied with listings right now. Rather, it is returning to more normal long term averages”.
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