- Hobart has the tightest property market, with only 4 weeks of stock
- Sydney and Adelaide have around 6 weeks of stock available
- The easiest market is Brisbane, with more than 10 weeks of stock currently
In a sign of the continued booming Tasmanian property market, Hobart only has 4 weeks’ worth of housing and unit stock for sale currently.
In the most recent CoreLogic data, which collects 85% of all private treaty (non-auction) property sales across the country, 168 houses and 36 units sold last week in the island’s capital.
This amounts to about a quarter (204) of the total available properties for sale (822). If they kept selling at around 200 a week, then there’d be nothing left inside a month, assuming no more stock came onto the market.
The amount of stock on the market in Hobart is down 20.3% over the past year, as it is in most other capital cities in Australia, bar Melbourne (down just 2.3%).
The number of new listings coming onto the market was 331 in the period up to 14 March 2021, according to CoreLogic. This should help top up the market nicely, as it is equivalent to 40% of available stock, but it also shows how fast properties are flying off the shelves.
Capital cities properties for sale
Elsewhere, Adelaide is the second most lowly stocked city, with about 6 weeks of stock on the market at current rates of sale. 5,470 houses and units are listed, and 916 sold last week.
Sydney is also a relatively undersupplied market with just over 6 weeks of stock, with 19,701 available property listings and 3,087 sales last week.
Capital cities Weeks of Stock