"The number of properties being advertised for sale nationally has risen sharply during the spring selling season of this year and the current volume of stock on the market is higher than those levels recorded during the depths of the GFC. ...
Across the major states, total listings are at the highest levels within Queensland. Across the state there are currently 75,655 properties advertised for sale which is the highest volume since RP Data started tracking listing volumes in 2007. ...
Despite Queensland being the country’s third most populous state, the number of property listings in Queensland are 15% higher than what is being recorded in New South Wales and 61% higher than Victorian listings. Since September 2009, Queensland has consistently recorded a greater volume of stock advertised for sale than that within New South Wales. ...
Within Brisbane and Hobart the number of properties advertised for sale are at their highest level since the beginning of 2007. ...
The real test for the property market will be around February of next year. Last time listings mounted to similar levels as they are currently the number of properties advertised for sale did not return to the pre Christmas levels. During the other two post Christmas periods detailed the volume of listings rapidly returned to pre Christmas levels in February. Should listings return to current levels it will indicate that there are many vendors who, for one reason or another, are willing to brave the slow market conditions and press ahead with the sale of their home. If listings don’t return to their current levels around February it probably means that many vendors have reassessed their position and preferred to hold off selling until conditions improve. Overall, listings data during the early part of 2011 will provide a very timely indicator and significant insight into the overall health of the Australian residential property market. "
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