Pete Wargent blogspot


'Must-read, must-follow, one of the best analysts in Australia' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for accurate & in-depth analysis' - David Scutt, Markets & Economics Editor, Sydney Morning Herald.

'I've been investing 40 years & still learn new concepts from Pete; one of the best commentators...and not just a theorist!' - Michael Yardney, Amazon #1 bestseller.

Wednesday 4 August 2021

Listings locked down in Sydney (data dump!)

Listings down

New property listings fell 21 per cent in Sydney in July, taking total stock levels down to a very tight 25,411.

Demand continues to outstrip supply, pushing prices higher, reports SQM Research.

Over the year total stock listings were 24 per cent lower nationally.

Sydney's stock listings were down more than 20 per cent over the year, but there were even bigger declines in Brisbane and three other capitals. 

Simon Pressley of Propertyology forecasts that Brisbane is set for some significant rental price increases due to a dearth of rentals. 

Approvals ease

Housing finance declined slightly by 1.6 per cent in June, albeit from record highs, with investor lending increasing, but construction lending now in decline.

First homebuyer numbers are also in decline, especially in Victoria.

However, upgrader numbers remained very solid, and more than enough to outstrip the supply of new listings.


Meanwhile dwelling approvals also continued to unwind lower from their very high levels.

In saying that, house approvals were still running at very solid levels, especially in Melbourne and Perth, with more than 12,000 houses approved over the month for Australia in total. 

Units and attached dwelling supply is continue to run at much lower levels than a few years ago, despite rebounding from last year's nadir. 

Sentiment towards higher density projects is recovering gently in Sydney and south-east Queensland, but not in Melbourne.


Finally, the Reserve Bank held the line on its taper timeline, with bind purchases still potentially on track to wind down from $5 billion to $4 billion in September.

New South Wales has picked up the pace to hit a total of 4 million vaccine doses administered, and restrictions could be eased by 1 September if more than 6 million doses have been administered across the state by that time.

It seems possible that much of south-east Queensland could also be in lockdown through August.

The brighter news is you can catch up with ALL the details with James Foster on today's data dumps here.

What a champion!