RESIDENTIAL PROPERTY
A BOUNCE in housing market activity is due in May after listings fell in April, while vendors have been encouraged by signs of a recovery in housing market conditions and are lifting their asking prices.
The latest data from SQM Research shows listings fell in April by 9.0% to 227,929 properties, with all cities recording a drop...
New listings – those on the market for less than 30 days – fell 20.2% in April, with 60,457 new property listings added to the market...
Older listings (properties that have been on the market for over 180 days) fell by 3.6% in April. All cities recorded falls in older stock except for Hobart...
“April is typically a month that does record falls in listings activity, primarily due to the multiple public and school holiday periods....
“The corresponding large falls in new listings combined with an uncharacteristic fall in older listings suggests some vendor caution...
“Going forward it is likely we will see a bounce in new activity for May. Thy key will be if we record another fall in older...
Vendor asking prices rose by 0.2% nationally, the second consecutive monthly rise, which came as CoreLogic reported a similar trend in sale prices across the country....
Both Melbourne Sydney asking prices rose by 0.6%. Perth recorded the strongest increase with asking prices rising by 1.7% and 1.4% respectively...
The number residential properties selling under distressed conditions in Australia decreased to 5,793 in April, a drop of 6.9% from...
“At this point in time there is no evidence that the large-scale fixed mortgage resets are having a bearing on the market,” Christopher said.