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Spring attracts sellers, not buyers

Staff Reporter 4 minute read

Jessica Darnbrough

Property listings rose sharply throughout the spring selling season, new data has found.

According to RP Data’s latest property pulse, the current volume of stock on the market is now higher than during the depths of the GFC.

Over the past five years, spring has been the season to record the greatest number of listings while autumn was the busiest season for property sales.

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RP Data’s research analyst Cameron Kusher said during spring 2010, the number of properties available for sale rose sharply at a time when housing finance volumes trended lower since September of last year, and when property value growth has been flat since June of this year.

For the week ending August 2010, the total number of listings nationally has increased by 16.5 per cent. Across the capital city markets, listings have climbed 21.9 per cent higher.

“Currently 75,655 properties are advertised for sale nationally which is the highest volume since RP Data began tracking listing volumes in 2007,” Mr Kusher said.

“This result highlights the challenges for real estate professionals and peripheral industries as well as the competition vendors are being faced with across much of the state.”

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