Lockdowns hit housing supply but Sydney sellers feeling more confident
Posted by: Multi Dynamic Ingleburn, 23 Sep, 2021
Lockdowns hit housing supply but Sydney sellers feeling more confident

More Sydney sellers are feeling confident about putting their properties on the market during the city’s long COVID lockdown, although many vendors in locked-down Melbourne and Canberra are delaying listing.

The latest PropTrack Listings Report showed the number of national new listings of properties for sale on realestate.com.au fell by 2.3% during August to the lowest level since January. But new listings were still 17.1% higher compared to a year ago.

Many sellers are waiting for lockdowns to end and the peak selling season is set to be delayed in Australia’s biggest property markets of Sydney and Melbourne as well as in the ACT, realestate.com.au director of economic research Cameron Kusher said.

“Announcements from the NSW government about a pathway out of lockdown, coupled with the ongoing ability to conduct one-on-one inspections, instilled confidence in Sydney sellers and we saw an 11.9% month-on-month jump in new listings in August,” Mr Kusher said.

“As long as one-on-one inspections can continue in Sydney, and vaccination rates continue to climb, it’s likely we’ll see seller confidence continue to gain momentum as we head into Christmas and the new year.”

Copy Resourcse: https://www.realestate.com.au/news/lockdowns-hit-housing-supply-but-sydney-sellers-feeling-more-confident/

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