Sydney property listings up 22% year on year (Corelogic), so no evidence of 'reduced stock levels'. On the contrary, we are seeing significant price declines (especially in apartments and Eastern Suburbs houses), deliberate obfuscation around actual clearance rate numbers, genuine concern about debt & the extent of overleveraging and now also the painful realisation that after paying high transaction costs recent buyers are facing imminent - or indeed immediate - negative equity.
