Property sale listings picking up but rental market 'dire', says REA Group | The Business | ABC News

Low housing stock may be propping up property prices, but the owner of realestate.com.au sees a turnaround coming, with more homes advertised for sale in Sydney and Melbourne in July. REA Group CEO Owen Wilson tells Close of Business the current financial year should be a better for the housing market. He thinks it will still be tough for renters with vacancy rates at historic lows, increased migration and investors exiting the market. The company's Mortgage Choice broking business also felt the squeeze from higher interest rates.  
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