How much property is on the market in your capital city? A state-by-state analysis
By
Cassidy Knowlton
The number of properties on the market in Melbourne in December 2011, according to SQM Research. This is up 43% from 33,865 in December 2010.
The number of properties on the market in Sydney in December 2011, according to SQM Research. This is up 23% from 27,956 in December 2010.
The number of properties on the market in Brisbane in December 2011, according to SQM Research. This is up 3% from 28, 389 in December 2010.
The number of properties on the market in Perth in December 2011, according to SQM Research. This is up 1% from19,292 in December 2010.
The number of properties on the market in Adelaide in December 2011, according to SQM Research. This is up 26% from 14,242 in December 2010.
The number of properties on the market in Hobart in December 2011, according to SQM Research. This is up 52% from 3,090 in December 2010.
The number of properties on the market in Canberra in December 2011, according to SQM Research. This is up 21% from 1,578 in December 2010.
The number of properties on the market in Darwin in December 2011, according to SQM Research. This is down 1% from 1,554 in December 2010. |
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written by Andrew Mcleod, January 19, 2012
The alternative to buy at the current unaffordable house prices would put my family in real financial compromise. On top of that the quality of home we would experience would be a lot less desirable that what we are experiencing right now.....so long may our experience in my rented house last.
I priced up a mortgage with recently and do you know what the repayments would eat up every scent I earn so screw that it just does work. Prices need to drop massively. If you bought recently you have been the screwed over big tiome and I truly feelk sorry for you and your families.
written by Danielson, January 19, 2012
We took a long hard look at buying leaving out our emotion to join the 'Great Australian Dream' and have found that currently rent vs buying - rent wins hands down. Saving every month, term deposits and shares plus a holiday this year and more, all because instead of paying $2890 per month on a mortgage we're paying $1200 to rent a substantially bigger house!
written by A lot of property in Canberra must have just hit the market...., January 19, 2012
http://www.allhomes.com.au/ah/act/sale-residential
it currently lists 2600 homes on the market in Canberra ( Queanbeyan is not ACT ) so that is a pretty big surge in properties on the market.
written by Andrew Mcleod, January 19, 2012
written by Nexus789, January 19, 2012
written by jack.haber@erison.com.au, January 20, 2012
Population growth ranging between 1.3% in Hobart and 2.2% in Darwin YoY has decreased the number of properties available per head of population from:
- 118 to 84 in Melbourne
- 161 to 134 in Sydney and
- 233 to 188 in Canberra.
Ultimately, this decrease in ratio must add up to increased competition for available stock and impact on prices. Whilst other economic factors have an impact on short term median prices and sales rates, I believe that the trend impact is inevitably towards higher prices.
written by Andrew Mcleod, January 20, 2012
Like you said the numbers look frightening because they are frightening. Is there anyone who is really prepared to pay these prices. Even TV adverts like the newest McDonalds one are reflecting on the global downturn.
written by Jack Haber, January 22, 2012
There is no doubt in my mind that population increase will be the basis of the next round of demand-led price rises. Demographic forces do not operate in a vacuum however. Affordability is the key to a healthy property market.
Residential construction costs are still rising inexorably despite a slowdown in forward work for bigger developments. The cost of raw land is also rising. In Melbourne this escalation is happening despite large new Government land releases. Together with economic conditions buyer confidence is shaky at best.
I act for developers, managing projects through planning and sales and to construction. I know well how price sensitive buyers are with new product. Nevertheless, sales are happening albeit at a slower rate. Those that buy and hold over the longer term will reap the rewards as have most investors in the past.
written by Andrew Macleod, January 23, 2012
The other reason is that people have realised they have been made a mug of and like sheep they signed their names to whatever the banks would lend them. Its as if people have learned that lesson the hard way and now will not enter into debt so easily.
Just to confirm......the figures do not add up and what I mean by that is the following. No matter how much you want me to buy your houses I simply cannot afford to unless you lower the price to a price that I can affford. An onsite peoples choice budget calculator will produce athe startling truth about how much the fortnightly repayments will be. We cannot afford your houses full stop.
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