More buyers than sellers
Property listings fell another 4 per cent in June, to be 22 per cent lower than a year earlier.
There were significant monthly declines in Canberra, Hobart, Melbourne, and Adelaide.
Over the year a numbers of capital cities have seen very significant declines.
Aged listings of over 180 days are clearing fast, down 47 per cent over the year, with declines posted by all capital cities.
Asking prices rose 0.7 per cent for houses and 1.3 per cent for units in June.
Over the year house asking prices rose 14.1 per cent, and unit asking prices rose 7 per cent.
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The RBA will continue with its QE program, but with no extension beyond the April 2024 bond for the bond yield target.
Still no change to the official cash rate at 0.1 per cent expected before 2024.
The press conference seemed to suggest a commitment to pushing inflation to above 2 per cent.
New fixed rate loans have increased a bit, but overall mortgage rates are still trending lower.
H/t Tim Lawless, CoreLogic.
