More homes up for grabs in Brisbane as property listings rise

THERE has been a surge in properties hitting the market in Brisbane, as homeowners head for the exit in a bit to take profits.

The number of homes for sale in Brisbane rose 6.9 per cent to 31,619 in March, according to the latest figures from SQM Research.

That’s more than the national average, with residential listings increasing 6.3 per cent last month.

But Sydney was the standout, with listings jumping 11.8 per cent from February to be up a whopping 23 per cent compared to a year ago as home sellers try to escape the city’s housing slowdown.

SQM Research managing director Louis Christopher attributed the rise to homeowners taking advantage of price gains in recent years to sell their properties before any correction in the property market hurts the value of their homes.

“We also had a longer month in March compared to February, so we have seen a jump in property listings,” Mr Christopher said.

Asking prices for houses in Brisbane also increased, with vendors now wanting $616,600 for a house — 0.5 per cent more than they did a month ago.

But asking prices for units in the city fell 0.2 per cent to $379,800.

Source: Realestate.com.au