SQM Research has released its stock on market report for August, which posted a 2.9% rise in listings over the month but a 2.1% decrease in listings over the year:
Listings rose across all markets over August, reflecting in part seasonality, whereas over the year the decline in for sale listings was driven overwhelmingly by Sydney (-15.3%).
The below tables show the breakdown in listings by days on market:
According to SQM:
August’s counts in part reflect the annual seasonal rise in listings that occur as we enter into the spring period. It also may represent some return of confidence by vendors especially in the Melbourne and Sydney property markets.
Agents will be pleased to hear the new listings also rose during the month, however, older listings remained fairly stable.