Sellers Hold Firm as Property Market Stalls and Rate Hike Looms

Houses in Sydney and Melbourne now take 70 days to sell on average, the longest time in six years for Sydney and one year for Melbourne, signalling a market where buyers are in no hurry and sellers refuse to blink.

Money Moves

• Days on Market Surge — Sydney and Melbourne houses hit 70 days on market; Brisbane and Perth also at three-year highs, per Domain data.
• Victoria's Housing Target Slips — Only 145,000 of the promised 800,000 homes built...