Source: SQM Research
In fact declines in listings were seen across the board in every capital city.
SQM Research reported solid gains in median asking prices in Sydney and Melbourne, as well as in Brisbane and Canberra.
The Victorian State Budget released yesterday will introduce a stamp duty exemption for first homebuyers paying up to $600,000, and stamp duty concessions for first homebuyer purchases up to $750,000, to apply from 1 July 2017.
This is a bullish signal for entry level stock in Melbourne.
The stamp duty exemption for investors buying off-the-plan in Victoria will be scrapped effective 1 July 2017 (though a discounted rate of stamp duty will remain for owner-occupiers and first homebuyers), which is another bearish indicator for construction and development.
A vacancy tax to prevent dwellings being left "unreasonably vacant will apply from 2018.