Hobart property market tight
Listings rose 3 percent in June, driven mainly by a 7 percent jump in Brisbane.
Higher listings in the month mirror recent softening auction trends, reported SQM Research.
Over the year, listings are still 3.3 percent lower, with Melbourne (-12.7 percent) and Hobart (-14,8 percent) recording excessive declines.
Melbourne house prices have exploded
The Hobart market is very tight, with a total of only 2912 listings, sending rents and house prices higher.
With the other exception of Melbourne, listings are generally higher this year than last.
Listings in Brisbane jumped by 7 percent in June, as vendors struggle gamely to offload a glut of apartment stock.
Meanwhile SQM reported that median asking prices in Melbourne have exploded, rising by 22 percent over the year to June.
Indeed, Melbourne asking prices for houses have increased by a massive 48 percent over the past three years, now comfortably outstripping growth in all other capital cities, including house prices in Sydney at 39 percent.
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.
His latest book is Four Green Houses and a Red Hotel.
