Listings laying low
A few graphics from CoreLogic's latest monthly chart pack.
Total property listings remain -26.1 per cent below their 5-year average, with very few forced sellers in the market.
This has to some degree underpinned this cycle's downturn, with auction clearance rates getting off to a pretty decent start in 2023.
Meanwhile unit rents continue to accelerate in Sydney, Melbourne, Brisbane, and Perth, in particular.
We'll have to wait for the next quarterly update from the ABS for confirmation, but it looks as though population growth is now running even faster than it was at the peak of the resources boom years, at over 450,000 per annum.
Most new arrivals into Australia are renters, but landlords aren't investing or can't invest, which is propelling the rental shortages to levels we haven't seen previously.
