Sunday, January 9, 2011

Increase in Australian House Inventory Presages Price Declines

44% jump in property listings points to price falls in 2011: Expert
The new figures suggest that the shortage has been overblown. Residential property listings were 328,270 during December, representing an increase of 44.9% over the year.

Louis says the figures dispel the myth of property undersupply in most cities, and says certain capitals such as Brisbane are recording a dangerously high level of properties on the market.
Christopher also says he is concerned about Darwin, which recorded the largest increase out of all capital cities at 57.3%.

If the bubble burst still needed a triggering event, the floods may turn out to be it.

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