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Stock returning to the market but how fast is it selling?

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Stock returning to the market but how fast is it selling?

More and more home owners are offering their properties for sale, according to new data from SQM Research.

SQM has reported that while residential property listings in November 2019 were down 6.3% on the year before, they were actually up 6.3% compared to the month before.

So while there was a shortage of sellers for much of 2019, it appears that home owners have become increasingly willing to put their home on the market.

More property listings means more downward pressure on prices.

In month-on-month terms, Hobart had the biggest surge in listings (by 11.7%), while Darwin was the only capital where listings fell (by 1.9%).

In year-on-year terms, Canberra was the only capital city where listings increased (by 0.4%), while Sydney experienced the biggest decline (by 19.3%).

SQM has also reported how quickly properties have been selling.

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