Nationally, Australia is experiencing a slight growth in the number of homes for sale. However, when major cities are analysed separately, the story is a bit different.
In Sydney there is recent growth, but it’s probable the recent 0.25% rate cut will bring supply and demand back into balance. More dramatically, Melbourne is experiencing a supply surge which market analysts will be watching closely. Because the market in Melbourne is so large, some are worried this trend could spread.
Currently the Brisbane market seems to be stabilising, but it’s difficult to predict where it will go from here. While the low demand for credit in Western Australia is resulting in a decrease in the supply market. Hopefully the recent credit decrease will help to balance the supply in major cities and counter the effects of global economic uncertainty.