The Sunday Mail  Desperate Sellers slash home prices   by Michelle Collins  February 2011

Meighan Hetherington from buyer’s agency Property Pursuit said not only were there more sellers than buyers, banks were now more cautious with home loan approvals.

“The financiers have been quite strict and tightening up their lending criteria, which means more contracts have been falling over because people who thought they could get finance couldn’t actually get it,” she said.