Listings drop
So much for the fixed rate cliff leading to forced sales - stock listings dropped sharply across the board in April.
New listings were down -20 per cent, while total listings fell -9 per cent.
Sydney, Melbourne, and Brisbane all saw significant declines in total listings.
Over the past year there have been increases in Canberra, and Hobart, which is finally normalising after genuine boomtime conditions.
Overall, stock levels remain much tighter than normal, with 227,000 listings nationally.
ANZ-Roy Morgan reported consumer inflation expectations declining to 5 per cent this week, the lowest level this year.
Westpac's Red Book recorded house price expectations index soaring from 102.9 in February to 130.3 in April as consumers realise that interest rates are peaking soon, while we're simultaneously heading for a housing shortage in the capital cities.
Source: Westpac
This index has a very strong correlation with actual dwelling prices.
SQM did note some weakness in regional markets, although distressed listings declined.
You can catch up with SQM's media release here.
