Add Category
66 Park St, South Yarra hit the market for sale last week.
HOME sellers are returning to the market again after spending much of late 2016 and early 2017 sitting on the fence waiting to see how prices would turn.
Figures from SQM Research revealed residential listings went up in every capital apart from Darwin over February.
Sydney, Melbourne and Canberra led the charge with listing numbers increasing at more than 16 per cent of their January levels.
It is a positive sign for Melbourne and, in particular, Sydney, which last year recorded runaway price growth as a result of high demand and a low supply of listings — most notably among detached houses.
Sydney’s 18 per cent jump in listings over February brought the total number of homes for sale to just over 25,000, while in Melbourne a 16.4 increase took the number of listings to nearly 33,000.
46 Mount St, Bonnyrigg Heights also recently hit the market but has since sold for $1.04 million.Source:Supplied
SQM Research managing director Louis Christopher said it would still take some time before the rise in listings helped slow growth in home prices.
“Asking prices are still rising in the nation’s two biggest cities, which highlights just how strong these property markets are,” Mr Christopher said.
“This momentum is likely to continue this year with interest rates hovering at very low levels. And today’s decision by the Reserve Bank to hold rates steady is likely to fuel (more) price gains.”
Brisbane recorded a 2.9 per cent bump in listings, Perth went up 3.5 per cent, while Adelaide saw a 3.3 per cent increase.
Canberra recorded the largest monthly rise, with stock levels up 21.1 per cent to just over 3600.
Darwin recorded a 0.7 per cent fall in listings. The increases across the other capitals pushed up the number of homes for sale nationally by 3.9 per cent to 336,604.
Originally published as More homeowners selling again