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SQM predicts price growth as listings fall

March 1, 2018

Property Listings Fall

March, 2018

Figures released in early February by SQM Research show that national residential listings fell by 4.8% to 303,901 in January, as sellers enjoyed a break over the summer holidays.

The fall in listings was led by a 13.9% drop in Melbourne then a 6.9% fall in Sydney. Melbourne and Brisbane’s stock levels are down significantly from this time last year by 11.9% and 29.1% respectively. This result is reflective of a sharp squeeze on properties available for sale in those cities. But SQM says that when compared to January 2017, listings are up by 20.9% in Sydney, reflecting a substantial increase in properties available for sale.

In Canberra, listings fell 6.2% and by 5.8% in Adelaide. In Brisbane, the stock on the market dropped by 3.9% with more modest falls in Perth of 2.1% and 1.3% in Darwin. In Hobart, listings were down by 2.6% over January.

The fall is predictable given January is a summer holiday month, according to Angus Raine, Executive Chairman, Raine & Horne. “With interest rates on hold at historic low rates and news trickling through that the banks are considering loosening some of the lending shackles, we expect 2018 will be a steady year of activity for Australian real estate.”