Auction Results Sydney 22 August 2020
Auction Results Sydney
Comment: Auction Results Sydney
Sydney and Melbourne rank among the most expensive cities in the world. Real home prices across Australia have climbed 150 per cent since 2000.
Data shows us the average home had a greater return, made up of rent and capital gains, than the average worker. The median Sydney home earned more than the median full-time worker earned from wages.
Falling building activity during COVID is poised to create a housing shortage. Building activity was especially low on the northern beaches, eastern suburbs, north shore and inner west. The tight supply of housing would benefit homeowners as it would create a safety net for falling values.
High-density areas would be the weakest markets in Sydney, with rents dropping and vacancies rising and many investors forced to sell.
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