Vendors pull up the ladder
The end of the year is generally quieter for real estate, but stock on market fell more sharply than expected last month, especially in Sydney (-18 per cent) and Melbourne (-17 per cent).
Figures elsewhere have also shown that the number of new listings is at the lowest level in 8 years, suggesting that most owners are simply sitting out the downturn, even if the total stock on market is higher due to slower selling times.
Despite this listings are still more than 25 per cent higher than a year earlier in Melbourne, so there are some significant challenges there (in spite of the massive population growth down that way).
Painfully slow transaction levels, though, whatever spin anyone tries to put on it.
