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Buyers are doing handstands after the latest data from CoreLogic shows that stock levels are hitting their highest peak since 2012. Further to this, in recent times, since the end of winter this year, we have seen stock levels rise by 16%.
There is no panic from the sellers side, but more so a drop off in buyers according to Tim Lawless of CoreLogic. It’s a combination of a rise in re-listings along with longer selling times and fewer successful sales at auction. Discounting rates have also risen to an average of 6.5 per cent from 6 per cent last year, further signs vendors are facing challenges in selling in the current climate.
Of course this is washed with the major capital city lens, as there are other markets that Milk Chocolate is investing in that are showing signs quite the contrary. What it does illustrate, however, is that there’s always a silver lining to a cooling market, especially for investors looking to get a firm foothold on the property ladder. More stock means more choice for buyers and harder selling condition for vendors — essentially a buyers’ market.
Milk Chocolate research, purchase and renovate residential and commercial property in Australia on behalf of Australians living abroad, looking for a home or investment property. To see how we can help you get in touch here.
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