Sellers holding back as economic conditions bite hard
A LEADING real estate agency believes sellers are “shaping the market” during the post-Budget housing market in Sydney and Melbourne. Since May, fewer properties have been coming onto the market in both cities and the total amount of stock available for sale has also fallen, according to Ray White Group. “Rather than listings building as demand weakens, sellers are pulling back – tightening supply and changing the outlook for Australia’s two largest housing markets,” Ray White chief economist Nerida Conisbee said.“New listings show how many propertie