SQM said that the rebound in the number of listings laid the foundation for the late spring sales season, which may last until December and stimulate the real estate market early next year.
SQM General Manager Louis Christopher said, “It seems that we are returning to the usual spring sales season. In October, all the capital cities listed on the market are increasing. In particular, Melbourne, after the fourth phase of restrictions were relaxed, rebounded significantly. In fact. , We expect the number of listings in Melbourne to rise sharply again in November.” The number of residential real estate listings nationwide increased by 6.5% in October, from 289,566 in September to 308,413. This figure is still down 3.3% from a year ago, but the two largest markets are showing a positive upward trend.
Compared with 12 months ago, the number of listings in Melbourne and Sydney rose by 22% and 13.6%, respectively, while the number of other capital cities declined compared with last year. The relaxation of restrictions related to the pandemic seems to have helped the market to some extent. In the past month, the number of listings in all capital cities has increased, with Melbourne having the highest increase, reaching 26.7%.
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