PHOTO: (Left to right) Stella, Lisa, Xavier and Ava Grimes outside their Kallista home, which Lisa listed despite market weakness. Photo: Luis Ascui
The number of new homes for sale in Melbourne has dropped to its lowest point in almost a decade, new figures show, as uncertainty grips the market.
The looming federal election is casting a pall over the market, agents say, but experts suggest the willingness of buyers to purchase homes languishing unsold means the market could be about to reset.
As prices have been falling, potential buyers and vendors have been more willing to sit on their hands amid struggles getting finance and worries about prices continuing to drop.
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