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Surprise surge in Sydney stock listings

By Louise Morrin

Sydney's property market has been notoriously tight for some time, but could the city's fortunes finally be reversed?

The latest figures from SQM Research show the New South Wales capital experienced a sudden rise in residential property listings last month. September data shows an 11.1 per cent yearly increase in the number of available properties, while listings were up 7.6 per cent from August levels.

Managing director of SQM Research Louis Christopher believes people should have an increased chance of finding property in Carlton and other parts of the Harbour City.

"The Sydney surge in listings is another indicator now suggesting that the Sydney housing market is now slowing," Mr Christopher noted.

However, he pointed out that asking prices are still rising. This gives further incentive for enlisting the help of a real estate agent in Carlton, as they'll be able to guide you through the market and ensure you get a good deal on your purchase.

During the week to 6 October, SQM Research revealed a 17 per cent increasing in asking prices from 12 months earlier. Meanwhile, unit prices were up 12.7 per cent from the same week in 2014.

Earlier this year, the Real Estate Institute of New South Wales (REINSW) revealed that residential vacancies were finally starting to keep pace with demand. The July 2015 survey showed the number of properties available to rent declined to 1.9 per cent, marking just a 0.2 per cent fall from the previous month.

Even in light of this decline, REINSW president Malcolm Gunning explained it represented a "strong stream of property" entering the market. This has helped to ensure there are more homes available for those hoping to move to Sydney and surrounding areas.

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