Sydney Sees Large Stock Decrease
December saw housing stock decline throughout Australia, according to SQM Research.
National stock fell by 8.5 per cent, reaching a total of 337, 744. This represented a year-over-year decrease of 4.3 per cent.
"There were some rather large declines in listings over December, however that is to be expected for this time of year given how the housing industry shuts down over Christmas and much of January," said Louis Christopher, managing director of SQM Research.
"Though the large year-on-year decreases in some cities such as Sydney are noted once again."
Sydney not only experienced an annual decrease of 19.6 per cent, but a monthly decrease of 26.4 per cent during December.
However, this does show that demand is high in the Sydney region, good news for investors. Purchasing property in an area where stock is low and buyer interest remains high could spell good news if you're looking to sell or rent a property.
If you're looking for a mortgage broker in Sydney's eastern suburbs or surrounding areas, contact Daniel Pym and I'll help you find the loan solution that suits your needs.