Australian housing swinging toward a buyers' market? By Ryan Smith

 

The housing market is showing signs of a turn from a sellers’ market to more balance between buyers and sellers, according to an analysis by PropTrack. 

The analysis found that the volume of weekly searches, views per listing and email inquiries to real estate agents were all down in November as the seasonal slowdown around the holidays approached, The Australian reported. The drop came as the number of homes for sale rose with the end of lockdowns, giving buyers more choices. 

Some indicators did show falls in listings, however, according to The Australian. SQM Research reported that national residential property listings dropped by 2.6% in November – to 233,716 from October’s 239,866 – and 21.1% year on year. 

New listings rose 2.3% over November, with 96,346 new properties entering the market, The Australian reported. New listings rose 20.4% year on year. However, the overall drop came as older listings fell 7.3% month on month and 51.2% annually. 

Still, the PropTrack Housing Market Indicators Report argued that the property sector was showing the first signs of a shift away from a sellers’ market. The report found that as the number of homes for sale increased last month, views on each listing declined. Views per listing dropped 9% in November from October’s record high, PropTrack said. 

The analysis also found that the volume of weekly searches had tumbled 16.2% over the last seven weeks. 

“Search volumes remain historically high, and we expect they should remain so over the coming months following the Christmas/New Year slowdown,” PropTrack said. 

Policy settings also continue to allow buyers to borrow cheaply, although some intervention is expected in 2022, The Australian reported. On Tuesday, the Reserve Bank maintained the cash rate at its record low 0.1%, as expected. 

“There were no surprises from the final RBA board meeting of the year after significant changes were announced at the November meeting,” said Cameron Kusher, director of economic research at PropTrack. “Australia’s economic recovery continues, but the RBA still expects interest rates to be on hold through all of next year and most, if not all, of 2023.” 

Being aware of what is happening in your target market can save you thousands 

Being up to date and aware of what is going on in the Australian property and the local economy is critical for your decision making whether you are leasing, selling, buying or want to swap a property find it fast and easy at SSB. 

At SSB there are no registration fees, no marketing costs, no listing fee's and zero lead charges. It’s 100% Free including for XML auto multi listings via your preferred CRM upload provider. 

Buyers, investors and renters can be confident that every property listed with SSB has accurate details and the is price displayed upfront making sellers super competitive and, you get direct contact with the decision maker for viewings, negotiations and getting the deal done. 

For owners, agents and developers listing their properties for Sale, Rent or Swap with online service https://sellitswapitbuyit.com  (SSB) they get global market reach and capture, brand exposure, enhanced income potential and prequalified searchers direct connection at zero cost. 

We can confirm there are great property deals for buyers and significant cost saving solutions for owners, sellers, developers and real estate agents to present land, residential, house & land packages, commercial and business properties for Lease, Sale or Swap including Fee Free CRM XML auto multi upload listings. 

Buyers, investors and renters can be confident that every property listed with SSB has accurate details and the is price displayed upfront making sellers super competitive and, you get direct contact with the decision maker for viewings, negotiations and getting the deal done. 

Selling, swapping or leasing go to Aussie property service https://sellitswapitbuyit.com (SSB) click “List property for Sale Rent or Swap Here” follow prompts to add your property details, photos, floor plan, price and even a video best of all it’s free and you get Direct Contact from pre-qualified property seekers. 

SSB is not and agent or reseller it is an Australian owned and based and there are no registration fees, listing costs or lead charges it's quick, it’s easy to sell, lease, swap or find your dream property.