PHOTO: Pundits tip 2019 will be a tough year for the housing sector

Listed real estate agencies McGrath and The Agency have felt the cooling winds of the flat residential market, with staff departures and a delay in new acquisitions as experts warn the housing market correction has further to go.

In the past week, McGrath terminated one of its Sydney’s lower north shore office franchises, but chief executive Geoff Lucas said once the agreement was finalised, there would be a bigger office in the area in the coming year.