Low stock
There's been quite a lot of unrealistic commentary about a mad rush of property listings as investors bail out of the market.
The interest-only cliff was thought to be a potential driver of forced sales.
But it is not so, per CoreLogic.
The interest-only cliff was thought to be a potential driver of forced sales.
But it is not so, per CoreLogic.
In fact new listings are still tracking at the lowest level this decade for this time of year, and so too are total listings.
Source: CoreLogic
Transactions are now picking up, but with more incumbent owners now paying down debt bank mortgage portfolio run-off is outpacing new flows (and this will result in only very modest housing credit growth, despite rising prices).
REA Group confirmed an extremely high level of interest in Sydney, with the harbour city driving the housing market rebound.
Housing credit data is due out tomorrow...can't wait for this month’s 'hot takes'!
