SQM Research has released its stock on market data for March, which recorded a sharp universal rise in listings over the month, but universal falls year on year:
According to SQM Managing Director, Louis Christopher:
“Residential property listings are starting to increase and accumulate. I note the surge of stock that has been on the market between 30 and 60 days. This may reflect the start of a capital city housing market downturn due to the health and economic impact of COVID-19. I also note though the rise in asking prices for the month, so quite a number of vendors have not really adjusted their pricing expectations as yet.”
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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.
