The latest figures from SQM Research could indicate green shoots in the Australian property market, with a significant drop in the number of residential properties listed for sale possibly indicating an increase in homebuyers.
Figures show the residential sales listings recording a monthly decrease of 4.3 per cent over the course of January, reaching a total of 368,510.
This is the second consecutive month in which listings have dropped, following almost a year of increases in 2011.
SQM Research managing director Louis Christopher admitted these figures looked promising but urged caution, noting that some of the drop is down to seasonality.
If there is no bounce in listings in February, "then it will be clear to us that something else is going on in the market - such as listings being absorbed by an increase in buyer activity," he claimed.
Mr Christopher told the Daily Telegraph last month that soaring vacancy rates in Melbourne represented an ominous development for the market.
Posted by Steve Douglas
