Australian homes listed for sale are
“stabilizing” as stock levels dropped in all capital cities in
April, according to SQM Research Pty.
Homes offered for sale in Australia’s eight state capitals
fell to 371,470 from 387,958 in March, the Sydney-based research
group said in an e-mailed statement. Sydney had the biggest drop,
with listings slipping 12.1 percent, while Hobart and Adelaide
had the smallest, at 2 percent and 2.5 percent respectively.
“It is becoming more evident that the number of real
estate listings has reached its peak,” SQM Managing Director
Louis Christopher said in the statement. Still, “house prices
were falling in the March quarter and we think they are still
falling as we speak.”
Listings rose 0.3 percent from a year earlier, the smallest
gain in the past 12 months, SQM said. The number of homes for
sale in Tasmania’s capital Hobart surged 29.3 percent, the most
among the eight cities, while Darwin, the capital of the
Northern Territory, had the biggest decline with listings
falling 28.6 percent.
To contact the reporter on this story:
Nichola Saminather in Sydney at
nsaminather1@bloomberg.net
To contact the editor responsible for this story:
Andreea Papuc at
apapuc1@bloomberg.net
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