The revaluation of the Australian residential property market should not be considered as a dramatic move as it has not been coupled with a drop in employment numbers, according to a global bank.

National property sales listings fell by 6.3 per cent in April to 332,236 from 354,459 in March.

The Labor Party’s negative gearing policy will result in a rise in housing rents and a fall in prices, according to SQM Research.