Listings Surge

Listings are finally turning around with new data showing a surge in some states, particularly Western Australia and South Australia.

REA Group says there has been a jump in listings in the smaller capital city markets while SQM Research data shows that real estate advertisements rose 12.4% in July compared with June, with 278,984 dwellings listed for sale nationally.

According to Domain, the highest increase in listings in Western Australia is 89.8% in Cockburn, while in New South Wales Chatswood – Lane Cove are up by 85.3% and in Toowoomba in Queensland listings are up by 83%.

In Victoria, Frankston has recorded the biggest increase of 52.7%; in South Australia, Onkaparinga is up 43.3%; in the Northern Territory, Palmerston is up 27.8%; Brighton in Tasmania is up 44.4% and Western Creek in the ACT is up by 62.3%.

 

Domain chief economist Nicola Powell says despite the lift in listings, affordability still remains stretched.