Surplus of Housing Stocks Hits Christmas Sale

The RP Data researcher says,” All these factors combined suggest that housing market conditions, at least at a macro level, are likely to remain relatively subdued until we see and significant reduction in the number of homes available for sale.” In some in which the average selling time is high, it indicates that demand for available home is low, and available housing supply may be high, we can say that vendors expecting higher prices compared to buyer price expectations. Based on the researcher of RP Data, across the combined capital cities there is 50.8 months of supply and the national level is 7.4 months and new listings are 18.6% total listings are 26.4%. After staggering for past years, Perth and Western Australia’s lower numbers of homes for sale may be beginning recover and home owners for sale hope to have contract tied up before Christmas.