๐ฃ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐๐ถ๐๐๐ถ๐ป๐ด๐ ๐๐ฎ๐น๐น ๐ฌ.๐ฏ%
One of Australiaโs leading property data experts has forecast a further rise in prices, largely due to the shortage of for-sale properties on the market.
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The number of property listings throughout Australia โ which was already low in April โ fell a further 0.3% in May, according to SQM Research (see chart).
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SQM managing director Louis Christopher said the numbers are encouraging for vendors, due to evidence of homes selling faster and there being slightly less competition from other vendors.
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"With reduced stock levels and more buyers in the market, property sellers have been lifting their asking prices and this in turn suggests official estimates of actual housing price changes will record another rise over June and perhaps into July, even with another lift in the cash rate on the cards," he said.
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