Fewer homes sold in Australia21 August 2015 by News Desk
The number of residential properties listed for sale in Australia has fallen by almost 2% in the past year.
Across major cities there is now 1.8% fewer homes for sale today compared to this time last year. Total housing stock across Melbourne, Hobart, Canberra and Sydney has fallen by 8% over the past 12 months. Housing supply in Perth and Darwin is almost 22% higher, resulting in lower asking prices.
The number of rental properties available in New South Wales fell 0.2% to 1.9% in July. Inner Sydney has seen a 0.5% fall to 2.1%, Middle Sydney has dropped 0.2% to 1.7% while Outer Sydney has fallen 0.1% to 1.6%.
Darrell Todd of thinkingaustralia says: “Given the overall rise in economic activity it is a surprise to see a slowdown in homes coming onto the market – especially when there is so much new property construction across major cities. I guess people are buying property but not selling”.