The two regions where home prices are still falling
Time is running out for Sydney bargain hunters – regions once offering some of the cheapest homes had the biggest price rises last year, while prices dropped in just two major areas.
Time is running out for Sydney bargain hunters – regions once offering some of the cheapest homes had the biggest price rises last year, while prices dropped in just two major areas.
Homeowners who listed their properties for sale over recent weeks have been rewarded with unexpectedly high prices, including a couple who got $100,000 above their “dream” price.
Sydney property prices have risen by the highest monthly margin since the pandemic hit after strong buyer demand turned most suburbs into seller’s markets.
Medieval towers, Zebra-themed decor and living room skate bowls were among the more unusual features seen in homes listed for sale over the past year.
Aussies and Sydneysiders, in particular, splashed out more money on houses and units in 2020 than they did in the years before the coronavirus hit – and there’s a clear reason why.
House prices are expected to spike over 2021 but growth will not be evenly spread, with new research revealing the suburbs where buyer demand recently turned red hot.
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Crumbling hoarder houses, drug labs and uninhabitable buildings abandoned for years sold for up to $4.6m this year as COVID spurred an unexpected home buying frenzy.
COVID-19 encouraged Sydneysiders to rethink where they wanted to live this year and both buyers and renters made new choices in the suburbs where they went looking for a home, research shows.
Interest rates are at record lows and governments are rolling out more support than ever, but would-be first homebuyers say there’s a big obstacle preventing them from capitalising.
Original URL: https://www.dailytelegraph.com.au/journalists/aidan-devine/page/110