๐ฃ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐๐ถ๐๐๐ถ๐ป๐ด๐ ๐ฅ๐ฒ๐ฐ๐ผ๐ฟ๐ฑ ๐ฑ.๐ฒ% ๐๐ป๐ป๐๐ฎ๐น ๐๐ป๐ฐ๐ฟ๐ฒ๐ฎ๐๐ฒ
The number of properties listed for sale across Australia continues to rise year-on-year, according to SQM Research, which means more choice for buyers and less favourable conditions for sellers.
There were 239,660 properties listed for sale in April. That was down 6.4% compared to the previous month โ due to the Easter long weekend and school holidays โ but up 5.6% year-on-year.
โTotal listings have been returning back to their normal long-term average levels after recent years of being in acute shortage,โ SQM managing director Louis Christopher said.
โI also note that asking prices, while they did rise nationally by 0.5%, fell in our two largest capital cities signalling some vendor caution and eagerness to meet the market. We will be watching this indicator more closely over the weeks and months ahead.
โAs the realisation sets in for all market participants that an interest rate cut is not imminently coming, we expect market caution to build over the winter months, and so do not at this time rule out some housing price falls in our largest capital cities for the second half of 2024.โ
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