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City of Belmont listings continue to fall to extreme levels

By Andrew Huggins

Listings in The City of Belmont continue to fall to extreme levels as buyers snap up the good properties and owners hold off selling in the hope that the low stock levels will translate into price rises. Three suburbs in particular have less than 1% of available properties listed for sale, Redcliffe 0.85% Cloverdale 0.84% and Kewdale 0.75%. The proximity to the city and the FIFO attraction of being near the airport has contributed to the demand and the relative affordability and recent interest rate cuts have enabled stressed home owners to hold on when they might otherwise have had to sell. Home open traffic for new listings is up significantly and there are several examples of buyers paying considerably more than anticipated. Currently there are 179 properties listed for sale in the City of Belmont representing 1.25% of all available properties. Only Ascot at 3.4% bucks the trend, Rivervale has 1.57% and Belmont 1.34%.

Media contact: Andrew Huggins Ray White Urban Springs 0413231303

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