Melbourne Sees Rise in Residential Listings

Last month saw a rise in the number of residential properties being listed for sale in Melbourne, the latest figures from SQM Research show.

Data revealed that on a national basis, the number of listings increased 3.8 per cent in March – and the picture was just as positive in the Victorian capital.

During the month, 45,339 properties were listed for sale, marking a 0.2 per cent rise compared to the previous year.

On a month-on-month basis, listings increased 3.9 per cent – a situation that could have positive knock-on effects for real estate in Lysterfield and other areas.

Melbourne was the only capital city to have recorded a rise in real estate listings compared to March 2012 – Sydney experienced the biggest decline with a fall of 15.7 per cent during the month.

Commenting on the findings, managing director of SQM Research Louis Christopher said: "Without the stimulus of a first home buyers grant (as given in 2009) this recovery is based fundamentally on interest rates cuts spread over a longer period of time and an economy recording moderate growth rates."

He added that this recovery is currently much slower than has been seen in the past.