Listings still low
No signs of a glut in property listings yet.
Quite the opposite, in fact, with listings down another -1 per cent in June, to be -6.2 per cent lower over the year.
The monthly decline in total listings was driven by Melbourne, Adelaide, and Perth.
Only Hobart has seen listings rise significantly from their lows.
After a multi-year boom, listings are 33 per cent higher than a year earlier in the Tasmanian capital, as vendors finally look to cash in their profits.
CoreLogic sees total listings still tracking -27 per cent below their 5-year average.
Source: CoreLogic
Overall new listings were down in June, driven by major declines in Sydney and Melbourne, so there is no sign of a rush for the exits.
Detailed press release from SQM Research is here.
