February residential listings jump, but buyer demand sees total in decline: SQM
Overall national residential property listings decreased in February 2021 by 2.7%, to stand at 257,952 listings, according to figures released by SQM Research.
It despite 76,430 new listings being added into stock. "Buyers are absorbing listings at a quicker pace than currently being added into the market," SQM's Louis Christopher noted.
Compared to last February, listings are down by 13%. The largest 2021 monthly decrease were in Adelaide, Brisbane and Perth, and compared to a year earlier, listings fell the most in Hobart and Adelaide.
Only Melbourne recorded a year on year increase in listings. SQM advised listings over 180 days fell 8.5% for the month and are down 26.7% compare to this time, last year.
"Right now demand is swamping supply," Christopher, the SQM managing director said.
"And no where more is this the case than regional Australia. “Still, the big test is to come when JobKeeper ends at the end of this month. "If there is no evidence of a material fall in clearance rates over April, then nothing is going to stop the market until the day APRA steps to regulate lending in or we have a rate hike from the Reserve Bank,” Christopher said.
