The buyers dominating home sales
Demand for real estate sales has nearly doubled since the height of the coronavirus lockdown period in April but it’s largely due to one buyer group who have been spending big.
Demand for real estate sales has nearly doubled since the height of the coronavirus lockdown period in April but it’s largely due to one buyer group who have been spending big.
Sydney’s auction market has been steadily strengthening and is in a stronger position than over this time last year, research shows. One sale saw a buyer pay $1.42m just to bulldoze a house down.
The auction of an inner west terrace turned awkward when it emerged the two parties who duelled in a bidding war were family and had pushed the price way above reserve.
A falling apart terrace with rooms blocked off with tape attracted 18 registered bidders at auction and sold for millions despite needing an estimated $2 million in renovation work.
Property prices have become cheaper than they were in 2015 in a range of suburbs due to falling demand from investors, who were traditionally the main market for the local homes.
Bondi and Mosman may be our dream locations, but one region dominated by large houses, many newly built, is where the most Sydneysiders are actually buying property.
The Reserve Bank may have had a gloomier view of the housing market than public announcements would suggest, with internal documents from May revealing how prices were expected to change.
Landlords are under renewed pressure to cut rental prices following another pandemic-driven surge in vacancies. It’s left Sydney with a dubious distinction among capitals.
A sprawling estate with a hydrotherapy centre, waterfall, 61 car spaces, laser room and green screen tech has been listed with an epic discount following recent price cuts on nearby homes.
Nearly 500 NSW properties went under the hammer this weekend, with preliminary results revealing most sellers scored prices over their reserves due to heated buyer competition.
Original URL: https://www.dailytelegraph.com.au/journalists/aidan-devine/page/124