Listings dry up
Very few property owners are looking to sell, preferring to hold on, with new listings falling even lower than their pre-Xmas levels, according to CoreLogic's latest chart packs.
Total listings are now 'at their lowest level in years', so there really isn't much stock around.
Mortgage rates, of course, are have continued to tumble to the lowest level on record.
Housing markets are more likely to be impacted in terms of rentals, with Airbnb owners flooding the market with cheap rental stock, especially in inner-city locations in Melbourne and Sydney.