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Tuesday, 4 June 2019

Which housing markets will turn first?

Stock pile-up

Stock on the housing market increased during May as election uncertainties (since removed) weighed on the market.

Sentiment has improved markedly since then, but Melbourne might take a while to turn given total stock on the market exceeded 40,000 by the end of May. 

That's a 21 per cent increase year-on-year for Melbourne, while in Canberra stock listings were up by 25 per cent over the year to May 2019. 

Hobart's housing market is now in decline, and listings are finally piling up again, with a 16 per cent year-on-year rise. 

In Sydney, listings in some of the inner ring eastern & lower north shore suburbs are low, and the market is already turning north.

By contrast there's a pile of unsold stock in the Hills District, Liverpool, and Western Sydney to be worked through, and in some other parts of Sydney too.