Real estate markets in major cities are gaining steam with buying interest and rising offerings, despite solid price gains in the last few months. SQM Research figures show listings that rebounded in January across all capital cities. Listings were down 10.0 percent compared to a year ago.
SQM Research managing director Louis Christopher says: “We saw a real surge in new listings in January, one of the stronger increases in the supply of homes for sale that we’ve seen for several years.”.
Listings in Hobart rose by 5 percent relative to December as sellers moved to take advantage of the price increase reported in recent years. New stock in Sydney has grown by 5 percent; Perth’s listings increased by 3.2 percent; Brisbane listings increased by 3 percent; Melbourne stock levels increased by 2.7 percent; and Adelaide’s 2.6 percent increase.
Yet listings in all capital cities were lower year-on-year, led by Sydney and Darwin, both down 25 percent. Christopher says “the month of January traditionally records small falls in investment properties listed for sale as the market is still in a summer holiday mode, however, the positive start in new listings shows vendors are now keen to sell and we could see further increases in the coming months.”