Most capital cities recorded a rise in fresh stock last month as nationally, new listings rose by 6.9 per cent.
Fresh stock rose sharply across Sydney and Melbourne, but total listings were still lower than a year ago.
“I think buyer demand will increase, given another pause in interest rates,” said SQM Research managing director Louis Christopher. Vendors have started to respond to the rising house prices and stabilising interest rates as evidenced by the surge in new listings across the country’s biggest housing markets.Fresh stock across Sydney jumped by 10.5 per cent to 13,780 homes last month, which is the largest amount of new stock to hit the market for any month of August since records started, SQM Research data show.
“I believe demand is rising because of strong population growth and buyers’ fear of missing out, which has fuelled a lift in asking prices, so vendors are responding to the stronger market conditions and are now more willing to list their property.” “We’re not seeing a build up in stock at the moment because total listings are still below long-term averages,” Mr Christopher said. “We’ve recorded 224,530 dwellings for sale nationwide in August, which is lower than the long-term average of around 240,000 homes.”
“We’re seeing an increase in the number of buyers proactively looking at properties both through open homes or online,” he said.
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