A 0.4 percent drop has been recorded in residential property values along the Far South Coast.
Data for August shows the local market fell in August, which is consistent with the previous quarter.
Cotality Australia research director Tim Lawless said there are very low supply levels coming into Spring.
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“There’s about 900 homes for sale at the moment across the market,” he said.
“That’s down 6% on a year ago and about 12% below average.
“We’re now starting to see sales number pick up and that’s against a backdrop where supply is very low, demand is really picking up. Prices are still below their record highs.
“It’s probably going to be a pretty active Spring selling season.”
