Auction Results Sydney 12 September 2020
Auction Results Sydney
Comment: Auction Results Sydney
CBA’s head of Australian economics Gareth Aird said most state and territories’ property markets were performing better than expected. Mr Aird said. “In fact, they’ve held up very, very well in some parts of the countries.”
Prices in Sydney’s tightly held eastern suburbs were unchanged for the month, while strong upsizer demand also kept prices flat in the Hills district. The biggest drop for the month was on the northern beaches at 1.5 per cent CoreLogic analyst Eliza Owen said. The Unit-heavy Parramatta region dropped by about 1.1 per cent and Ryde 1.3 per cent over August.
The biggest risk for the market was apartment landlords defaulting on their mortgages due to plunging rents, however with strong support from well capitalised Australian banks, the property market is performing extremely well.
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