News Corp Australia Network
The number of homes currently on the market has increased over the past month, a new report shows, however buyers have less choice than this time last year.
According to PropTrack’s Listings Report for October, released today, the total number of metro Adelaide properties listed for sale on realestate.com.au was up 6.2 per cent in October on September figures. Despite the recent uptick, stock levels are sitting 9.6 per cent lower than this time last year.
Seaton, in Adelaide’s south, recorded the greatest year-on-year increase in listings on the property site, up 100 per cent on last October’s levels.
Para Hills was not far behind, up 90 per cent, with Aberfoyle Park (up 64 per cent), Paradise (up 54 per cent) and Findon (up 40 per cent) all recording solid gains. Lightsview, Golden Grove, Salisbury, Pooraka and Norwood all recorded the biggest drops in listing levels. While Adelaide’s metro listings were up for the month, regionally listings dropped 9.4 per cent.
PropTrack economist Angus Moore said while stock levels had improved nationally, buyers were still struggling to find suitable properties.
“New listings have had a slower start this spring after a busy first half of the year and busier-than-normal winter,” Mr Moore said.
“New listings picked up in October following a public holiday-affected September.
“However, the lift was more moderate than in recent years. It is still too early to know whether this represents a market shift after a very busy first half.”
Mr Moore said, while interest rate rises were reducing borrowing capacities, Australian buyers and sellers still had plenty of reasons to transact with confidence.
“The housing market remains underpinned by positive fundamentals, including very low unemployment, expectations that wages growth will pick up over this year, and increasing international migration.”
Source by www.realestate.com.au