The property market is flooded with houses — but no-one wants to buy them

“And we need to offload this one to just take a bit of the pressure off.”... if A BIT of the pressure makes you liquidate an asset, my suspicion is you shouldn’t acquire this asset in the first place. ❗️

I’m sure if the price was right, there would be plenty of buyers. The most likely reason is that housing is still too expensive.

From tulips to houses and we still havn't learned after 400 yrs. At least back then we were not living in tulip bulbs.

Not at the price

Rubbish - Beecroft Cheltenham homes selling within 21 days and vendors achieving very good prices - not sure if prices have dropped but they have now totally stabilised

People can't afford to buy a house. If you're not working fulltime or if you're casually employed you can't get finance

It’s like the supermarkets are flooded with 15 dollar Freddo Frogs

Hint: They're still over-priced.

The issue is not that no one wants to buy them. The issue is, who can afford them? And who wants to pay over-inflated prices?

aushousingcrash These people would have owned that home in 1992 and probably loved Keating for allowing them to grow their wealth via super. From 5.7min. Has super inflated the housing bubble? NuggetsNewsAU DFA_Analyst

LOL the couple who received 3 offers last year and now are complaining they still can't sell for whatever amount they want.

Plenty of people want to buy but vendors think it’s 2017 and aren’t willing to accept the prevailing market price. Basically many vendors are price anchoring i.e. in denial at this stage

KTmoneyTOR I agree. People cant afford them so have given up. Waiting for a 50% price drop. Back to reality pricing. Inline with economy and wages etc... cryptomarkets2

Maybe Wall Street should pick them up, pennies on the $ & be slum lords down Under. Then in a few years price everyone out of the housing market like in the US& Canada

Big Australia

Its not that no one wants to buy them, no one can afford them except people rorting NegativeGearing

Science can't explain it otherwise but wages are not growing that fast

Why would Chinese $ want to buy in Vancouver when it's only getting cheaper to buy tropical property closer to home. We do have a lot of 8 in our vanre listings tho 😉

The prices are overinflated, banks are operating like criminal cabals and most people are struggling to pay the bills they have, let alone forking out for an inflated mortgage on a property that will never see a geniune return on investment.

My parents in Melbourne were getting offers left right and center during 2017 and early 2018...now in 2019 cant catch a single bid....

Too bad. Everyone’s just jealous of renters. 😂

news_australian Fly by night builders erecting shotty apartments have flooded the market on the Gold Coast , people are hanging off waiting for the crash..

Funny real estate agents in Melbourne's east say there's NOT enough properties on the market. I've seen 2 properties passed in, still on the market the past month in Blackburn 18 mths ago would have been snapped up by Asian buyers. I tell my young bloke to hold out for a while

No one wants cheap quality, condensed living, low sustainability, overvalued, expensive houses that will barely last 50 years.

Reduce house prices?

Yeh......because it's overvalued.

28 years ago ground war started to Liberate Kuwait.Dont forget the us soldiers that died in war over there in 1st Gulf war.I served in Alcarj ,Saudi Arabia during war,with 36th tac fighter wing from Bitsburg AFB,Germany,skill crew Cheif on F-15 Fighter.

yeah its called a crash, it was going to happen but instead of fixing it Howard and PMs following him just kept inflating market to try and kick issue down road but, we are out of road, to much can kicking not enough infrastructure/road building

It’s called a market.

Why does the ABC tell half fibs ? just so their supporters can gag on it, probably & a bit of self gagging.

No one want to buy them, because they're already up to their eyeballs in crippling debt.

Probably Labor's fault.

*everyone who didn't get into the property market before it went completely stupid silently raises their hand*

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