Post-election property sizzle turns fizzle

So say some agent, at the AFR:

The post-election housing euphoria has fizzled out into a state of “calm and caution”, with agents likening the market to a shaken can of Coke.

“When you take a can a Coke, and shake it, it explodes and then starts to flatten out – that analogy is quite appropriate for the market right now,” BresicWhitney director and agent Shannan Whitney said.

“My agents say there was a bit of hype but it’s settling down a bit.”

CoreLogic’s leading mortgage index is showing similar:

Stock on market remains high:

Full report.

I expect the RBA, APRA and Government to have to work quite hard to turn it around but work they will!

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