Over the 28 days to 28 July 2019, CoreLogic was tracking 27,848 unique newly listed properties advertised for sale and 207,883 total properties listed for sale. New listings are properties not previously advertised for sale over the past six months and total listings is the sum of new and ongoing listings.
As the first two national charts show, newly advertised stock for sale is significantly lower relative to recent years and -22.0% lower than a year ago. Meanwhile, total stock advertised for sale is also at the lowest level in many years and -3.5% lower than a year ago. The low number of new listings being added to the market is partly seasonal (listings tend to trend lower through winter), but is also reflective of weak vendor sentiment. The recent improvement in housing market conditions should help to support a rise in vendor confidence as we approach the seasonal upswing in listing numbers through spring and early summer.
The full text of this article is available to MacroBusiness subscribers
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.
