October 2013 National Property Listings & Brisbane and Darwin were the only capital cities to record monthly vacancy rate increases, rising a 0.1 percentage point during October 2013, recording vacancy rates of 2.2% and 1.0% respectively

Research Indicates that the latest stats re level of residential property listings around the nation rose minimally during the month of October, with national stock levels increasing by 1.5% and coming to a total of 347,056.

Although the monthly change in listings is considered modest in comparison to previous months, the level of stock has been recorded a substantially lower figure than that of the corresponding period in 2012, revealing that stock is indeed being absorbed at a much faster rate during 2013.

SQM OctoberA city by city break down however, reveals that both Canberra and Sydney experienced a surge in stock during October, with for sale listings increasing by 5.9% and 4.7% respectively for these two capital cities.

That being said, Sydney’s year on year comparisons continue to record staggering decreases, with the city falling by -17.3% in stock levels since October 2012.

Of particular interest is Darwin’s 13.4% yearly increase. There is considerable rise in stock levels and a slowdown in property prices.

In summary:

October has recorded a fairly benign increase in real estate listings which was similar in magnitude to the increase recorded this time last year. Increases in listings during the spring months tend to be part of the normal seasonality of the residential property market.

To this end there has been nothing too abnormal in the results other than I note what now seems to be a continued uptrend in supply for the Darwin housing market, which suggests to me a forthcoming slowdown in that city.

Hobart on the other hand is now providing a signal that there is now a bottom in the market there after nearly three years of dwelling price falls.

Going forward, listings are expected to lift for November in most cities as what is normally the case for this time of year.

For similar research regarding the rental market please view this link and “like” us on facebook.  Many thanks in advance! https://www.facebook.com/LJGillandRealEstatePtyLtd/posts/614883855237870:0Image

Advertisements

Leave a comment

Filed under LJ Gilland Real Estate Pty Ltd

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s