Lovin’ it, from UBS:
Real estate listing volumes remain soft in October
A post-election rebound in residential new listing volumes still has not yet eventuated. On a rolling 4-week basis, national new listing volumes as at 30-Oct-16 are down 2.8% yoy, a slight moderation vs the 3.7% yoy decline in 1Q17. The Sydney and Melbourne markets remain the key drivers of overall weakness, down 16.5% yoy and 4.6% yoy respectively in the 4 weeks to 30-Oct-16. Brisbane (+8.2% yoy), Adelaide (-1.0% yoy), and Perth (+11.8%) are faring relatively better, with Regional markets down 0.6%. We note Domain is particularly exposed to weakness in Sydney/Melbourne, though growth in other drivers (yield, new geographies, depth, developer/media) will be an offset.
