SQM Research reported its listings figures for July, which confirmed that Hobart is the one genuinely tightening capital city property market in Australia.
Total listings were down by 0.6 per cent in Hobart to just 3.397, to be down by 9.9 per cent over the year to July 2016.
Sydney has shown signs of a moderate slowdown with a total of 25,577 listings, being a 13.8 per cent increase on a year ago.
Perth and Darwin seem be steadying a little on this metric.
It's important to keep the increase for Sydney in perspective.
Sydney listings are well down on previous peaks, and remain well below the total number of listings in Melbourne (36,688), Brisbane (29,995), and even Perth (26,277).
In terms of median asking prices, the strongest performers over the past year according to SQM's index have included:
-Melbourne houses +15.5 per cent
-Sydney units +6.4 per cent
-Brisbane houses +6.2 per cent
SQM's Managing Director Louis Christopher discussed the possibility of an interest rate cut leading to an acceleration in prices in the largest capital cities.