The level of residential stock around the nation took a dip during the month of July 2012. This is shown in figures released by SQM Research in their newsletter from last week.
The figures show a change in the month of -4.9% and an annual change of -2.4%. The figures for Brisbane are -2.1% for the month and -11.8% annually. The report notes that it the trend continues, this ‘could be a potential indicator that the housing market is entering into recovery mode.’
The managing director of SQM Research, Louis Christopher said, “It is early days however this could be an indicator of a turning point in the market. We also note that nationally, there is now less stock on market than this time last year. Brisbane, Darwin, Perth and Sydney all have less listings in the market compared to July last year.”