Buyers and sellers of second-hand homes are taking a wait-and-see type of attitude towards the new macro-control policies on property markets that were released in late May, Shanghai Morning Post reported today.

According to some major local property agencies, the transaction volume since June 1, the commencement of the new policies, has slowed, as both sellers and potential buyers are now sitting on the sidelines.

"The number of potential buyers' viewing homes dropped by 40 percent from the normal average over the past four days, though the prices have remained relatively stable," the agencies said.

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