Townsville and Northern Queensland were listed by RP Data as having a low supply of houses and units on the market, but Century21 sales agent Mario Torrisi said supply around Townsville is increasing every day.
The data calculated how many months it would take for the market, at the current rate of buying, to purchase all the properties currently advertised for sale.
According to the data, it would take seven months to sell all the houses and 13 months to sell all the units listed in Townsville and Northern Queensland.
Mr Torrisi said the lack of supply had been especially evident around the “boutique” suburbs of Townsville, but many vendors were now listing.
“I can definitely see more vendors around town starting to list, it has definitely started,” Mr Torrisi said.
“Prices have stabilised over the last couple of months and that’s returned a lot of confidence to the market.
“During the downturn last year, some people were forced to sell their homes, which brought prices down and made other potential vendors quite cautious.
“That situation has changed now and the market has begun to move in a positive direction.”
The data is compiled by dividing the number of advertised properties by the run rate of sales in the area.
The supply of houses in Brisbane would take 3.4 months to sell, while the units would sell in 2.8 months.
Far North Queensland’s house and unit supply would both take 6 months to sell.
Jan Pontifex moved to 56 Wackett St in Palleranda in October but was searching for a house until last month.
The retiree moved from Adelaide to be around her children and grandchildren.
“I was staying with my family while I was looking for a house, but I couldn’t find anything around Palleranda,” she said.
“I started looking around Idalia because I liked the lake but I couldn’t find the right house for me,
Pandawill.
“There was one property around Palleranda that I was looking at and I was hoping it would be listed.
“When it was listed, I jumped at the chance to buy it.”
The property was only listed for three days before Ms Pontifex bought it for $455,000.
