Monday, August 9th, 2010 - SQM Research Pty Ltd
Figures released today by property research house SQM Research show residential real estate listing numbers rose around the country during July, pointing to an increasingly softening market.

The SQM Listing Index represents the first and most timely series outside of auction clearance rates to indicate the overall health of the Australian property market.

During the traditional winter slowdown from June to July, listing numbers in a normal market have historically remained flat or recorded a marginal drop. This year, the SQM Index has recorded three consecutive months of increase in supply, with total national online property listings rising by 5.1% during July to 309,000 listings.

Further, national listings are up 28% compared to July 2009, when there were 241,783 residential properties advertised for sale.

SQM Research managing director Louis Christopher said the rise is illustrative of a slowing market which is affected by more than just seasonal factors.

“Vendors have been more often than not failing to get the price they’re after. The old stock hanging on the market is competing with new stock coming on, resulting in an increase in overall supply” Christopher said.

“The only capital city where supply has remained fairly consistent over the previous year is Sydney, indicating that this city is likely to represent the most stable market currently.”

“With the additional expected increase in listing numbers for the spring selling season, we expect national listings may reach a high of around 370,000 advertised properties by December.”

Key Points
• Total national online residential property listings rose by 5.1% during July to 309,530 listings.
• The northern Gold Coast region recorded the largest monthly increase, with listings rising by 15% to 4900 dwellings advertised for sale.
• The capital city to record the largest increase in percentage terms was Darwin, with a rise of 9.0% for the month.
• While no capital city recorded overall declines, the capital city to record the smallest increase was Hobart, with a 1.9% increase in listings for the month,
• Sydney’s Lower North Shore, Sydney CBD, West Hobart and Melbourne’s CBD were the regions to record declines in listings. West Hobart recorded the largest decrease in listings of 7.7%

Contact Profile

SQM Research Pty Ltd


SQM Research is an independent property research house which specialises in providing accurate property related research and data to financial institutions, property professionals, real estate investors and the media.

It is owned and operated by one of the country’s leading independent property analysts, Louis Christopher.

For six years Louis was Head of research and then General Manger of Australian Property Monitors before leaving the firm to launch SQM Research and Adviser Edge Property, a leading fund manager ratings house specialising in ratings for agribusiness, structured products and property.

Louis Christopher
P: [612] 9225 6045
M: 0410667651
W: www.sqmresearch.com.au

Keywords

property market, listings, national property indicators, market slowdown, auction clearance rates, advertised properties

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