Property listings increase on the horizon: CoreLogic RP Data
New listings have increased steadily over the past four months, with 26,000 new homes listed in the capital cities each month.
CoreLogic RP Data's Property Pulse for the four weeks ending July 19th tipped an escalation in listings over the next few weeks, typical in the second week of August.
Capital city listings are now 13.2% higher than this time last year, high new listings up 9.7%
According to CoreLogic RP Data, the most significant boost in new listing numbers is coming from the most buoyant housing markets, Sydney (+20.1%) and Melbourne (+19.2%) while the softer housing markets are seeing new listing numbers substantially lower than a year ago.
"The opposite is true for the total number of properties being advertised for sale, with total listings in Sydney, Melbourne, Brisbane, Hobart and Canberra lower compared with a year ago indicating a higher rate of absorption than the weaker markets of Perth, Darwin and Adelaide where total listings are up on last year," the report noted.
"At a combined capital city level, total advertised stock levels are virtually level with the same time last year (-0.4%) while nationally total stock levels are 1.8% lower than a year ago."
