Buyers don’t want house they bought for $1.34m
A property in Sydney’s north has sold under the hammer in front of a crowd of 150 eager house hunters, but the buyers who paid $1.34 million don’t even want to keep the house.
A property in Sydney’s north has sold under the hammer in front of a crowd of 150 eager house hunters, but the buyers who paid $1.34 million don’t even want to keep the house.
“Renovator’s delights” are proving popular with home buyers judging from the recent sale of a Forest Lodge terrace for $100,000 above the reserve price.
Property sales have been heating up in Sydney’s east, with buyers scrambling to the auction of a deceased estate near Bondi Beach just for the chance to knock it down.
They used to be a common sight on weekends but home auctions are becoming increasingly rarer events in parts of Sydney as nervous homeowners hold off sales until the market improves.
Sydney’s real estate market might be going through a rough patch but that hasn’t stopped some sellers from raking it in — including the owners of this 130-year-old terrace.
Homeowners are emerging from the festive season with properties worth less than they were last year, after the housing market went into a negative December spiral last seen in the early 1980s.
Gloomy predictions for the housing market have masked one of the true benefits buyers and sellers are getting from the market, according to the president of the Real Estate Institute of NSW.
Bill Shorten’s proposal to restrict negative gearing is not delivering the support he may have hoped for, with new research showing the policy has split opinion among voters.
NSW’s economy would shrink over the next decade if migration levels are cut by half, resulting in catastrophic job losses and stagnant wage growth, new modelling reveals.
A survey has revealed Sydneysiders aren’t convinced population growth is solely to blame for expensive house prices and congested transport and are pinning the blame on a different trend.
Original URL: https://www.dailytelegraph.com.au/journalists/aidan-devine/page/124