New Property Listings are UP!
The number of new listings is up 75.8% across the country however the number of total listings is still down on the 12-month average at 6.4%. In Brisbane, market figures highlight that new property listings are up 51.4% and total listings still down 23.8% on the 12-month average. With more property owners now choosing to list their property for sale the buyers will have more choice which is hopefully welcoming for many buyers who’ve been scrambling to find a home. A broad view across the country shows that buyer demand fell last week by 1.2% which is now 8% below the historic high recorded in February. However, the REA buyers index shows we are still seeing buyer demand up 8% on this time last year. All signs still point towards a continuing rising market for the remainder of the year and even into next year, and so the experts agree. So, while it may seem like a good idea to wait to see what the market does, it is unlikely we will see a decline in prices. The heat in the market has steadied however there are still many people looking for houses and supply just can’t seem to keep up.