Earlier this week, SQM Research released its May Stock on Market data, which claimed that property listings has lifted “driven by older stock not selling” amid a “patchy market”:
Overall, there was a rise in listings at the national level, driven by older stock not selling. We have recorded a 12% increase in listings of over 60 days. This tells me it is a patchy market with vendors struggling to meet their pricing expectations. New listings actually fell for the month at the national level, which is abnormal for May. Though we have recorded rises in new listings for Sydney and Melbourne, other cities such as Brisbane, Adelaide and others recorded a decline in new stock. Many regional locations also recorded falls in new listings.
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