Housing stock stabilising

by AB09 Jul 2014
Housing stock has stabilised in June after a May that saw stock on market surging.

New figures from SQM Research show the number of residential property listing fell by 5.3% in June. Nationally, there were 347,074 residential properties listed in June, down from 366,413 in May.

Stock levels saw year-on-year decreases in every capital city but Darwin and Perth, a result SQM attributed to the wind-down of the commodities boom.

“We note that due to the downturn in the commodities boom, Perth has experienced an uptick in both stock levels and rental vacancies, as the demand for accommodation in the locality weakens,” the company said.

Nationally, residential listings were down 3.3% on last year. Canberra saw the biggest yearly decline at 11.5%, while Darwin saw the largest increase at 18.7%.