Blog: Residential property listings rise in August
The amount of residential property listings across Australia rose during August, which should be encouraging for those looking to buy a new home.
Data from SQM Research for the month of August show that nationally, levels of stock on sale increased by 2.6 per cent and reached a total of 360,414 properties.
In Adelaide, the total amount of properties listed during August came to 16,834. This figure represents an increase of 2.3 per cent from the previous month, although it also marks a year-over-year decline of 3.5 per cent.
Overall, Australia recorded a monthly increase in stock levels of 2.6 per cent during August. In fact, every capital city in the country (apart from Melbourne) saw an increase in the amount of residential property listings during the month.
Darwin saw the biggest jump in August with a rise of 12.4 per cent, equating to 1,463 properties. Following closely behind were Sydney, which saw an increase of 9.1 per cent, Brisbane (7.8 per cent), Perth (4.5 per cent), Canberra (2.7 per cent) and Hobart (2.4 per cent).
"The monthly pick up in online sales listings can be mostly attributed to the fast approaching Spring selling season, which SQM Research believes will see an influx of stock onto the market, particularly post-election," SQM Research Managing Director Louis Christopher said in a September 10 statement.
"Potentially with more confidence instilled in the national economy, vendors will be encouraged to place their properties on the market."
If you're searching for your new home, having a home loan pre-approval secured can help you enter the market with confidence.
The experienced team at AAA Mortgage Solutions can work with you throughout the home loan application process, ensuring you get the product and features that are right for you.