Spring property listings slump to 12-year low

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Spring is usually a time of surging property listings. But not this year, according to CoreLogic’s Head of Research, Tim Lawless:

The number of new listings being added to the combined capitals housing market has seen a hefty 44% rise from the depths of the winter slowdown in early July through to the first week of October, however that hasn’t been enough to push fresh listing numbers in line with previous years. The number of new capital city listings over the past twenty eight days was tracking at the lowest level for this time of the year since CoreLogic started tracking real estate listings in 2007.

22,939 fresh real estate listings were added to the capital city housing markets over the past twenty eight days; 13% lower than the same time last year and 15% below the thirteen year average.

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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.