Residential property listings increased by 1.5 per cent in October, according to figures released by SQM Research.
Sydney and Canberra led the charge, with sale listings rising 5.9 per cent and 4.7 per cent respectively.
Louis Christopher, managing director of SQM Research, said the figures are comparable to the corresponding period last year.
“October has recorded a fairly benign increase in real estate listings which was similar in magnitude to the increase recorded this time last year,” Mr Christopher said.
“Increases in listings during the spring months tend to be part of the normal seasonality of the residential property market.”
However, Mr Christopher highlighted the results from Darwin and Hobart as the most telling for future activity.
“I note what now seems to be a continued uptrend in supply for the Darwin housing market, which suggests to me a forthcoming slowdown in that city”.
“Hobart on the other hand is now providing a signal that there is now a bottom in the market there after nearly three years of dwelling price falls,” he said.
According to Mr Christopher, sale listings should continue a modest rise in November.
“Going forward, I expect a lift in listings for November in most cities as that is normally the case for this time of year,” he said.
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