house listings up 40 percent yoy

APM property minotrs has just put new data out.

House and unit listings ie unsold inventory is up 38.8% on last year.

The interesting thing is around 30% of the new listings have occured within the month.

So many people trying to sell...but credit has dried up...if you want or need to sell you will have to start looking at dropping asking prices...this should begin any time soon.

Property investors always talk about supply demand ie there are more migrants etc but they dont seem to look at the supply demand for the actual housing.

Supply is speeding up whilst demand is slowing...you know what happens next :)