Australia’s housing market is unbelievably tight


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:

New listings

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

Total listings

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:

Total listings by state

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.