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Tuesday 6 June 2017

Listings suggest ongoing strength

Melbourne tightens again, again, again...

SQM Research posted its listings figures which suggested "ongoing strength" in the housing market.

Listings were somewhat higher in the month in Brisbane and Sydney (though miles below the peak of around 44,000 in the case Sydney). 

Melbourne's market continues a multi-year trend of tightening since 2012, while Hobart arguably has the tightest market of all of the capital cities.  

Indeed, both Melbourne (-19.5 per cent) and Hobart (-18.9 per cent) have recorded enormous year-on-year declines in total stock listings. 

Melbourne recorded a massive near 6 per cent uplift for houses in the month, for a 22.6 per cent annual increase. 

The Melbourne housing market is performing extremely bullishly, echoing out-performance in the local  economy.

It's also worthy of note that the annual change in listings in resources cities has flattened, after increasing for a long period of time.