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Staff Reporter
Stock on market levels increased nationally in March, climbing 3.8 per cent, according to SQM Research.
SQM managing director Louis Christopher said the market remains in a ‘recovery mode’ despite year-on-year stock levels falling by 2.1 per cent.
“It is our opinion that differing from the recovery witnessed in 2009, the upturn in the Australian property market being experienced at present is a much slower, more normal cyclical uplift,” he said.
“Without the stimulus of a first home buyers grant this recovery is based fundamentally on interest rates cuts spread over a longer period of time and an economy recording moderate growth rates.”
Sydney recorded the largest rise in listings, rising by 7.6 per cent or 1,966 properties. However, listings are down by 15.7 per cent in Sydney compared to March 2012.
All other cities recorded monthly gains in the range of two to six per cent.
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