Property listings in Australia declined slightly in March, indicating that housing demand still exceeds current market supply, according to the latest report from SQM Research.
During the month, national property listings fell 0.5%, reflecting the large decline in Canberra. Listings in Hobart and Adelaide also fell 0.4% and 0.6%, respectively.
Three cities recorded substantial list gains during the month, including Melbourne (2.9%), Perth (3.4%) and Darwin (2.2).
"Absorption rates continued to rise, so we saw overall property listings drop slightly in March, as they did in February. That means that demand for property always exceeds supply, "said Louis Christopher, managing director of SQM Research.
On an annual basis, property listings in March were 16.7% lower than the same period last year. Only Melbourne has reported an annual increase in property listings.
Christopher expects the market to remain tight, despite the end of the JobKeeper program which will likely reduce absorption rates.
"The Australian economy remains awash in cash and with interest rates so low we are likely to see continued growth in house prices for months to come, unless regulators aren't stepping in to cool the market, which is unlikely with COVID-19 still lurking in economies, ”he said.
Top suburbs:
st marys
,
the tweed is heading south
,
Kawana
,
Narara
,
Westmead
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in real estate, it is important to ensure that you not only have the lowest available rate possible, but also have the right loan features for your needs. needs.
You only need to fill in a few details below and we will then arrange for a local mortgage broker to contact you and determine the characteristics or types of loans that suit your needs. We'll even help you with the paperwork. In addition, an appointment is free.
We value your privacy and take all your information seriously – you can check
our privacy policy here
