PHOTO: For Sale sign Sydney. Domain News
New figures have revealed there’s no significant shortage of property listings in Australia’s capital cities, despite many real estate and buyer agents claiming a lack of stock in some capital cities is contributing to fast-rising prices.
Instead, it’s the sheer number of buyers in the market right now – thanks to historic low interest rates – that’s making buyer conditions so competitive.
Data released by SQM Research on Tuesday found new property listings were up 4.3 per cent nationally over January, with most cities recording year-on-year rises.
Louis Christopher, managing director of SQM Research, said any shortage of stock in capital-city real estate markets was being driven by increased buyer demand rather than any significant drop in new listings.
“It’s certainly not the tightest market I’ve ever seen, and I’ve seen [fewer] listings on the Sydney market than what we’ve got today,” he said.
“I think maybe the issue we’re in fact seeing is that actually, we do have listings but not enough to satisfy the demand for all these new buyers.”
In Melbourne, which was most impacted by pandemic-related lockdowns in 2020, new listings were up 27 per cent compared to January last year.
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