{"id":33168,"date":"2021-07-01T16:43:46","date_gmt":"2021-07-01T04:43:46","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=33168"},"modified":"2021-07-01T16:43:46","modified_gmt":"2021-07-01T04:43:46","slug":"housing-gridlock-new-listings-fall-as-property-owners-wont-sell-if-they-cant-buy","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/housing-gridlock-new-listings-fall-as-property-owners-wont-sell-if-they-cant-buy\/","title":{"rendered":"Housing gridlock: New listings fall as property owners won\u2019t sell if they can\u2019t buy"},"content":{"rendered":"

PHOTO: Fewer sellers are listing their homes, new figures show.\u00a0Photo:\u00a0Supplied<\/span><\/strong><\/p>\n

It\u2019s gridlock! Large swathes of the nation\u2019s housing markets have ground almost to a standstill with the number of new listings being put up for sale slumping last month \u2013 mostly because vendors fear they, in turn, won\u2019t be able to find anything to buy.<\/p>\n

Many are also reluctant to put their homes on the market in winter, traditionally one of the slowest times of year, compounding the problem. And, with demand still far outweighing supply of stock, experts say there\u2019s not much relief in sight until spring breaks and more sellers decide to chance their luck.<\/p>\n

\u201cThere\u2019s so much pent-up demand out there but while vendors are all thinking it\u2019s a good time to sell, they know it isn\u2019t a good time to buy,\u201d said Nick Boyd, head of growth at Belle Property Australasia. \u201cIt\u2019s like a traffic jam. No one can move and more and more buyers are joining in the backlog.<\/p>\n

\u201cSellers know they\u2019ll get a fantastic price as we\u2019ve seen stunning price growth over the last nine months, but that can equally put a hesitation into the sellers\u2019 minds knowing there might not be much out there for them.\u201d<\/p>\n

New listings over the four weeks to June 20 in Sydney fell 7.8 per cent, on latest Domain Group figures, but some capital cities saw much more dramatic falls. In Melbourne, for instance, new listings dropped over the past four weeks by a thumping 28.7 per cent.<\/p>\n

Some of that could well be a hangover from the Victorian capital\u2019s fourth COVID-19 lockdown, and agents are attributing much of the rest to winter, which tends to hit the southern states much harder. Greg Costello, of Buxton Real Estate in Melbourne\u2019s Brighton, says the city tends to be more cautious in the cooler months than Sydney.<\/p>\n

\u201cMuch of that fall can be put down to a seasonal thing,\u201d he said. \u201cWe\u2019ve always seen that Melbourne is more affected by the winter and events and school holidays than others.<\/p>\n

READ MORE VIA DOMAIN<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

PHOTO: Fewer sellers are listing their homes, new figures show.\u00a0Photo:\u00a0SuppliedRead More →<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":33169,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098730,478109126,478098512,478099464,478114267,478112588,478103351,478104924,478102792,478111894,478099519,478101561,478115870,478100127,478112806,478104855,478098521,478110199,478098545,478098546,478098892,478108952,478098566,478098562,478104124,478098542,478098519,478098535,478103440,478106702,478098513,478098873,478098579,478098510,478098514,478098511,478098705,478098533,478098828,478098509],"class_list":["entry","author-data123nz","post-33168","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-auctions","tag-aussie-house-prices","tag-australia","tag-australian-property","tag-australian-property-boom","tag-australian-property-bubble","tag-australian-property-crash","tag-australian-property-downturn","tag-australian-property-investors","tag-australian-property-ladder","tag-australian-property-market","tag-australian-property-market-report","tag-australian-property-owners","tag-australian-property-prices","tag-australian-property-sales","tag-australian-property-values","tag-australians","tag-buxton-real-estate","tag-celebrity","tag-celebrity-property","tag-corelogic","tag-covid-19","tag-first-home-buyers","tag-foreign-buyers","tag-greg-costello","tag-home-loans","tag-home-ownership","tag-house-prices","tag-housing-markets","tag-new-listings","tag-property","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-agents","tag-real-estate-news"],"yoast_head":"\nHousing gridlock: New listings fall as property owners won\u2019t sell if they can\u2019t buy - 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