New listings continue to rise, but are they in the areas where you want to buy?
As lockdown restrictions ease across Sydney, Melbourne and the ACT, the spring selling season has started in earnest, and vendors are piling properties onto the market.
New listings have surged 28.2% nationally in the four weeks to mid-October, amounting to more than 45,000 new properties added to the market. The news could be a relief for buyers, because it means they have more stock to choose from after an extended period of relatively short advertised supply.
But this raises important questions: is the freshly advertised stock sitting in parts of Australia where people actually want to buy? Or, is this an indicator of vendors trying to offload properties that have not seen high levels of demand? Looking at listings data in more detail, it seems that the answer is a bit of both.