CoreLogic’s head of research, Eliza Owen, has released a new report showing that the ratio of property sales to new property listings is running at its highest level in decades:
CoreLogic estimates there were around 171,100 sales [in the three months to July]. This is 53.4% higher than what has typically been seen this time of year for the previous five years. In the same period, there were just 121,200 newly advertised properties for sale in the three months to July.
This has taken the ‘sales to new listings ratio’ to recent highs nationally, at 1.4 over the three months to July…
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
