CoreLogic: Sydney for-sale listings highest in four years

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From CoreLogic’s Cameron Kusher comes an interesting report on for-sale listings, which are the highest in four years in Sydney (on a like-for-like basis), but remain low in Melbourne, which helps to explain their recent divergence in price growth:

Across the nation CoreLogic is currently tracking 226,007 properties advertised for sale which is -5.3% lower than a year ago and well down on levels at this time of the year for the past five years. Across the combined capital cities, total stock advertised for sale is 1.0% higher than it was a year ago with 110,909 properties advertised over the past 28 days.

Looking at stock at this time of year across the combined capital cities there is more stock currently for sale than there has been each year since 2013. By comparing capital city and national data it indicates that the amount of stock for sale in the regional markets is substantially lower than it has been over recent years. The combined regional markets account for 50.9% of total listings, its lowest proportion of national listings since December 2011.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.