Limited Stock Available for Sale

In Brisbane (and also the Sunshine Coast), there are a limited number of apartments listed for sale by owners (excluding off the plan and developer sales).  Some agents are saying (for the first time in years) that there are more buyers than sellers for apartments.  In some suburbs, there are very few apartments listed for sale, and in some larger buildings, there are no listings at all.  That being said, prices are up, but not dramatically.

One could conclude that:

• owners don't think it is a good time to sell
• owners believe that prices will rise soon, following on from the trends in Melbourne and Sydney
• owners are still underwater, and don't want to sell at a loss, and so are waiting for further price increases before selling
• interest rates are low, and so holding costs are low -- why sell a cash flow positive property?
• Brisbane is a good long term investment
• buyers believe that the Brisbane market will improve
• off the plan developments are overpriced, and so buyers are looking at existing apartments, which are better value