More stock available in Australian cities

There was 30 per cent more stock available in the Australian property market during May 2011 than a year previous, data from SQM Research has revealed.

On average, the number of properties available to purchase increased 29.7 per cent year-on-year to May.

However, in some cities the rate was even higher. Melbourne led the way, with a year-on-year increase in stock available of 49.6 per cent.

SQM Research chief Louis Christopher said that this was a huge rise.