It’s attracted the interest of Tom Cruise, James Packer and even Steven Spielberg but an unusual block of land with a twisted history has turned into one of the most head scratching real estate sales of all time.
Sydney tenants may be paying some of the highest rents in the world but they are due to get some much needed relief thanks to a shift in the market.
Home prices have been falling at varying rates across Sydney, with buyers getting the best deals in select city pockets. New data also reveals how prices in each region grew over the past year.
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.
Sydney’s real estate downturn has been accelerating, with the market today claiming a new record and one analyst warning sales could also take an unexpected twist in February.
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.
Forget water views and scenic surrounds — Sydneysiders are putting a higher value on a different attribute when shopping for their dream homes, a review of online home search activity shows.
Nearly one in 10 homeowners lost money when reselling their properties in pockets of Sydney where developers have flooded the market with new apartments, research shows.
Sydney has become more of a haven for the world’s rich than Dubai, Miami, Paris and plenty of other global cities, with the Harbour City enjoying a record year for luxury mansion sales.
Next year is set to be a good one for tenants, with the head of one of Sydney’s largest real estate groups issuing a warning to landlords to be careful of some changing market forces.
Original URL: https://www.dailytelegraph.com.au/journalists/aidan-devine/page/164