Melbourne sellers
There are relatively few new A-grade listings in Sydney now, which is making life a bit more difficult for buyers in search of quality stock.
More compelling evidence here that Melbourne is some way further back in its cycle, with a higher number of auctions and more listings.
Total stock on the market increased to more than 42,000 in Melbourne in March, as some vendors are still hopefully of exiting.
That represents a 25 per cent increase year-on-year in Melbourne listings, while Canberra is also up by 21 per cent.
Overall, listings are higher nationally by 5 per cent from a year earlier, mainly driven by Melbourne.
However, the increase has been driven by lower grade old stock failing to sell, according to SQM Research. and transaction levels are dismal.
Asking prices for units in Sydney experienced a modest correction, while in Melbourne and Canberra they are actually higher year-on-year, with the declines largely driven by the top end of the market.
Great data series as always from the good guys at SQM.
