SQM Research released its latest newsletter and it was fascinating stuff as always.
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In Melbourne, listings have confounded the critics to come down by 16 per cent from very lofty levels indeed in May 2014 as stock is gradually being absorbed.
In Sydney, stock levels remain exceptionally low, still down by 14.5 per cent year-on-year.
This point was re-iterated by Louis Christopher, Managing Director of SQM Research, over on Twitter.