Spring season listings surge
Spring season listings surge
Posted on Monday, November 03 2014 at 9:03 AM
Springtime represents new beginnings, warmer weather and usually a resurge of interest into the real estate market. Property listings are generally highest during spring season and this year is no exception according to listings results tracked by RP Data.
RP Data research
analyst Cameron Kusher says listings are increasing nationally although they
are lower in comparison with recent years.
Over the four weeks
to October 26, 2014, there were 32,706 unique new properties listed for sale
and 73,189 unique re-listed properties across the combined capital cities.
Capital city new listings account for 64 per cent of total new listings
nationally while capital city re-listings account for 37 per cent of all
re-listings nationally.
“This highlights that
capital city stock is being absorbed much quicker than stock in non-capital
city regions,” Kusher explains. “As a result, the number of re-listed
properties is much higher across the regional areas of the country.”
Across the country:
- Melbourne
stock levels are quite high. Kusher says this suggests the rise in values is
perhaps more driven by speculation than a shortage of effective supply levels. - Sydney –
there’s an ongoing rise in home values, Kusher says. Sydney is partially
fuelled by low stock levels and low mortgage rates. - Brisbane
stock levels are trending lower and in line with a moderate rise in sales and
values. - Adelaide
stock levels have reduced, although results show a sharp rise over recent weeks. - Perth
stock levels have been relatively stable now for a number of years. - Stock in
Hobart is falling as sales volumes rise. - Darwin is
experiencing a trend towards higher levels of stock available for sale. - Canberra
stock levels are also now rising as the market slows.
New listings increased recently in all capital cities
except Darwin. The total number of properties advertised for sale also
increased over this period in all cities and highlighted an increase in the
amount of residential property available for sale.
The number of available properties for sale is likely
to continue rising over the coming weeks before the inevitable slowdown during
the Christmas and New Year period.
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Spring season listings surge
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