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An increase in property listings as a result of lower buyer confidence has failed to cause any widespread price falls in Australia’s property markets.
According to an analysis by RP Data, suburbs with the highest number of properties listed for sale in the past 12 months have avoided any significant price declines.
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Furthermore, just under half of suburbs with a high level of available stock managed to maintain or even increase dwelling prices.
Werribee, for example, had the third highest number of houses listed for sale in Victoria in the past 12 months (634) but saw the median house price grow by 6.7 per cent.
While there has been much conjecture that top tier markets have been plagued with excess stock, RP Data senior research analyst Cameron Kusher said suburbs with the largest listings were generally those with larger overall supply.
