Residential property listings decline in June

By the resi financial blog team, 16 September 2013

Residential listings decline in June 2013

The level of residential listings across the country dropped in June, ramping up the competition for a property bargain in Australia.

This information comes from SQM Research, who found that national figures for residential property listings declined by 5.3 per cent in the month of June, bringing the total down to 358,882 properties for sale.

Available housing stock declined in all of the capital cities across the country for the year ending June 2013; however Sydney was one of the areas that fared the worst - where residential listings fell by 14.6 per cent for the month of June, and 23.1 per cent over the year.

"I believe that overall, the national housing market still remains well supplied with current listings, however Sydney is turning out to be a clear exception," said SQM Research managing director Louis Christopher.

"When you consider the long term chart, Sydney is approaching the 2009 lows and this fits with other measurements indicating a strengthening housing market for that capital city."

If you are in the market for purchasing a property, and you want to give yourself the best chance against the competition, then it is recommended you get your finance pre-approved.

Having the knowledge in the back of your mind that a lender has agreed to give you a certain amount towards your home loan can help you to focus your real estate search and give you the best opportunity to secure your dream property.

Furthermore, getting a home loan pre approval means you can act without hesitation should the perfect opportunity arise. Rather than waste precious time waiting for your loan to be approved, you can make a move with confidence and secure real estate with ease.

This gives you more control over negotiating situations with vendors. Coming across with confidence shows that you're serious about purchasing property, which could give you the edge when the pressure sets in, and help you secure a better deal.

Categories: Home Loans