Hobart hurricane
National residential listings fell by -4.8 per cent to 303,901 in January, as sellers enjoyed the sunshine and trotting off on their summer hols, according to SQM Research.
The monthly drop was driven by Melbourne (-13.9 per cent) and Sydney (-6.9 per cent).
Despite the monthly decline, Sydney's listings at 26,150 are at the highest level since January 2009, being some +20.9 per cent higher than a year earlier.
For the first time in nearly half a decade, Sydney buyers will actually have some choice!
For the first time in nearly half a decade, Sydney buyers will actually have some choice!
At the other end of the spectrum Melbourne listings are -11.9 per cent lower year-on-year, while Hobart listings have copped an absolute shellacking.
Hobart's housing market is now a buyer's nightmare with just 2,362 listings across the metropolitan area being some -29.1 per cent down from January 2017.
More strong price gains ahead for Hobart housing this year, then.
In most other capital city markets stock listings were relatively flat from a year ago.
Reported SQM:
"Looking forward, with interest rates still at low levels and a possible expansion in lending by the banks, we expect a year of modest prices gains in Sydney and most other capital cities."
Reported SQM:
"Looking forward, with interest rates still at low levels and a possible expansion in lending by the banks, we expect a year of modest prices gains in Sydney and most other capital cities."
Interestingly SQM is quite positive for Sydney's prospects in 2018, certainly more so than most other commentators.
