Australia’s housing market is unbelievably tight

Wednesday, 11 August 2021

CoreLogic has released its Monthly Housing Chart Pack, which shows that new listings were running 2.6% below the five-year average in July 2021:

More importantly, the total number of homes for sale is running 27.1% below the five-year average:

At the jurisdictional level, annual stock levels have fallen across every market except Melbourne, which was in hard lockdown at the same time in 2020:

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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.