A recently released SQM Weekly Vendor Sentiment Index has revealed that growing confidence in the housing market has also encouraged vendors to lift asking prices.
According to the survey, at a national capital city level, vendors appear to have lifted asking prices by 1.3% during the March 2013 quarter.
Two of Australia’s capital cities recorded asking price rises for houses – Sydney and Darwin.
Vendors have also been recorded to have increased asking prices for units across most capital cities. Large rises occurred in Sydney with a 3.4 per cent increase, Perth with a 2.3 per cent increase and Hobart with a 4.8 per cent increase.
The figures in the report have a strong correlation with those in the quarterly Australian Bureau of Statistics (ABS) House Price Index. Given this increase, it is believed the ABS will report a rise in housing prices of between 1.0 percent and 1.6 percent for the March quarter.
For further information regarding increasing vendor confidence, view the following article with more details on the SQM Research Weekly Vendor Sentiment Index: