Flood of properties hit market as vendors realises this is as good as it gets

The number of properties being listed is surging around the country with experts predicting some owners are heading for the exits. Data from the REIV reveals there were 924 reported auctions last weekend, 900 scheduled for next weekend and a record 1000 the week after.

Louis Christopher from SQM Research has noted an increase in the amount of listings in all capital cities and suggest owners are wanting to lock in prices after a period of extreme price growth. “I think vendors are realising this is as good as it gets, and if they want to get a good price then they need to sell now. Normally during the period of winter you see volumes drop off, so if we were to continue to see these types of results in June, that would be abnormal.”

President of the Real Estate Institute of Australia, David Airey says there could be some corrections in coming months and as vendors start to realise demand isn’t as high as they would like it to be.

ยป Experts warn surge in number of properties for sale could force house prices down – Smart Company, 31st May 2010.


  1. lol “flood of properties” they haven’t seen anything yet, if this is a flood I wonder what they are gonna call it when the shit really hits the fan, when the true flood comes, people are gonna be left clueless, “where the hell did all the houses come from? we were supposed to have a shortage? ” oh..we didnt have a shortage..like japan thought they had a shortage..like ireland thought they had a shortage..like california thought it had a shortage..the list goes on and on..

    the average amount of people per home has been trending down for the last 100 years..from 4 to 2.5…this shortage myth has gone on for years, if it was true shouldnt the average amount of people per home be trending back up??

    the only shortage is a shortage of common sense in the majority of the publics mind

  2. This flood as they call it is only a drop in the bucket if interest rates go 1 % higher then you will see a real flood!

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