February 24, 2017 | 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.