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9.3% drop in listings marks the start of 2017

Big industry names such as Domain and McGrath both felt the pinch as the start of the year saw a national drop in listings by 9.3%. Melbourne felt the contraction albeit at a much lower rate of 4%.

Limited supply contributed to a climb in prices as buyers fought for fewer listings. Factors contributing into the shrinking of stock levels include fears surrounding household debt levels, potential interest rate increases and affordability sentiments.

Full Article http://www.businessinsider.com.au/australians-are-holding-onto-their-homes-and-its-starting-to-hurt-real-estate-agents-2017-2