Sellers rush to beat property slump as homes flood market

Australia’s housing market has taken a dramatic turn, with a flood of homes hitting the market in the middle of winter as sellers race to cash out before prices slide further. New figures reveal property listings have surged to their highest level in more than a year in what analysts are calling an “abnormal” winter market, with Brisbane emerging as one of the country’s biggest turnaround stories after shifting from a boom market to a buyers’ market in just three months. RELATED: Thousands of Sydney homes linger on market as buyers retreat Aussie property listings rise, offering desperate home hunters a lifeline Property listings have surged to their highest level in a year, according to SQM Research. Photo: Glenn Hunt. SQM Research data released today shows national residential listings jumped more than 12 per cent in July to 278,984 properties, taking the total number of homes for sale 22 per cent higher than the same time last year. The increase flies in the face of the usual seasonal slowdown, with July traditionally one of the quietest months of the year for new listings. SQM Research managing director Louis Christopher said the surge suggested many sellers were trying to beat...