The number of residential properties listed for sale is up

MARCH proved to be a busy month for would be home sellers. Find out which state has the most properties to choose from.

MARCH proved to be a busy month for would be home sellers, with new figures revealing the number of properties listed for sale was up in almost all capital cities.

According to SQM Research, national stock on market was up by 1.8 per cent during the month.

Despite the increases the number of properties being offered for sale compared with this time last year is still down by 5.2 per cent.

Melbourne had the largest number of properties listed for sale, 46,891, up 5 per cent on February, but down by the same amount since this time last year.

Sydney listings rose by 6.8 per cent (the highest increase in the country), it was closely followed by Brisbane with almost 28,000 properties listed for sale.

Canberra was the only capital city where the number of properties listed for sale during the month dropped.

Darwin was the only capital city where the number of properties listed for sale increased compared with the same time last year — it went up by 12.8 per cent.

SQM Research managing director Louis Christopher said stock on market levels did tend to have strong seasonal influences so it was more worthwhile comparing year on year figures.

He said with the high number of listings in Melbourne may indicate why some vendors in that city have struggled to lift their asking prices.

Property for sale March 2013

Melbourne — 46,891

Sydney — 29,203

Brisbane — 27,983

Perth — 20,801

Adelaide — 17,981

Hobart — 4800

Canberra — 3841

Darwin — 1221

Source: SQM Research