Not enough properties in Western Australia are being put on the market for sale, analysts have warned.
Last week the Real Estate Institute of Western Australia (REIWA) released figures that show the state market is not being “replenished” adequately, despite strong figures for house sales.
The number of properties for sale in June dropped to 11,000, well below the 14,300 properties on the market in March.
"[This] sits below the equilibrium of around 12,000 listings, suggesting the market is swinging back to favour sellers,” said REIWA president David Airey.
Meanwhile, modest growth in land sales, a small increase in unit sales and a fall in property prices in regional areas resulted in a "steady-as-she-goes" market, said Airey.
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