Fresh home listings are now rising faster than buyers could absorb them across the combined capital cities, indicating tougher competition for vendors.
Fresh home listings are now rising faster than buyers can absorb them across the combined capital cities, indicating tougher competition for vendors and more options for buyers in spring, data from CoreLogic shows.Advertised stock is now rising faster than demand across the combined capital cities.Over the four weeks ended August 13, the number of new listings across the combined capital cities jumped 11.8 per cent above the five-year average, and were up 1.5 per cent compared to a year ago.
The hefty increase in new listings has lifted the total number of advertised stock on the market, indicating supply is now outpacing demand, according to Mr Lawless. “It also sends a warning sign that we might be seeing an early rebalancing between supply and demand … we know that that imbalance is really the key factor in supporting price growth.”Over the past four weeks ended August 13, total advertised stock jumped 5.3 per cent in Sydney, rose by 4.4 per cent in Melbourne and climbed by 4.3 per cent in Canberra. Across the combined capitals, total listings rose by 2.2 per cent.
In the past four weeks, agent activity nationwide rose 14.8 per cent higher than at the same time last year, and 31 per cent above levels in 2019. “Consumer sentiment is very low at the moment, and there’s a really close relationship between sentiment levels and market activity.
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