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Friday, 2 December 2016

Listings down 4.2pc (Melbourne asking prices up)

Lower stock levels than last year

Listings ticked a little higher in November, but nationally have sunk -4.2 per cent lower than a year ago, according to SQM Research

Although Melbourne has he highest number of listings at 36,868, this hasn't stopped asking prices for houses driving some +13.4 per cent higher over the past year. 

Asking prices for units in Melbourne have increased by +5.2 per cent over the year to November. 

Stock levels were down from a year ago in Melbourne (-10 per cent), Sydney (-3.8 per cent), Hobart (-12.6 per cent), Canberra (-2.5 per cent), and Adelaide (-6.2 per cent). 

Note that this is another data series suggesting that Darwin is turning a corner, it being the only capital city to record a monthly decline in listings.

The tightest market over the past year has been Hobart, with stock levels well down.

However, listings in the Tasmanian capital jumped by +7 per cent in November as vendors look to cash in on rising prices. 

Listings also jumped by +5.9 per cent in Canberra in the month, perhaps a sign of things to come in the nation's capital with an unprecedented number of apartments under construction in the city.