Eager buyers splurge on homes they can’t live in
Uninhabitable homes requiring expensive repairs have been selling for higher prices than some properties in better condition as a listings shortage puts the squeeze on buyers.
Uninhabitable homes requiring expensive repairs have been selling for higher prices than some properties in better condition as a listings shortage puts the squeeze on buyers.
Property prices hit a record high nationally in January but not every suburb is booming, and prices actually dropped in some pockets, new research has revealed.
It’s set on a sand dune covered with shrubs but the sellers of a corrugated iron shack in a quiet NSW town want a truly staggering price – and this is why.
Homebuyers in parts of Sydney will now have to pay an average of $40,000-$60,000 more than buyers did last year due to runaway growth in prices. SEE WHERE PRICES ROSE THE MOST
It was another whirlwind month for the housing market and home values hit a record high, but it is a fundamentally different boom from any we’ve had in the past, experts revealed.
It was once deemed “Struggle Street” but now Western Sydney suburb Mt Druitt has become an unlikely boom suburb where property seekers have been advised to consider buying.
Lucky homeowners have been pocketing more than $100,000 a year from their properties in some areas of Sydney, as sellers command inflated prices well above what they paid.
Homeowners considering listing their properties for sale have been urged to list early or risk coming up against greater competition from other sellers later in the year.
Sydney’s housing market may be booming, but huge price discounts are on offer for a handful of properties in select city pockets where sales have been slower.
This weekend will mark the start of the 2021 auction season in Sydney, with an unusually high volume of auctions scheduled in one city region that’s going gangbusters.
Original URL: https://www.dailytelegraph.com.au/journalists/aidan-devine/page/97