Auction Results Sydney 16 April 2022
Auction Results Sydney
Comment: Auction Results Sydney
Rate Rise: Housing prices could drop by about 15 per cent over two years if interest rates rise by 2 per cent according to the Central Bank. The cash rate is tipped to start rising by June. The previous downturn where Sydney values fell 15 per cent from 2017 to 2019 came when the bank regulator made it harder to get loans for investors or interest-only borrowers.
Dr Nicola Powell said prices in Sydney would ease more than those in Melbourne given the extraordinary leap in prices in the harbour city over the past two years. The median house price in Sydney jumped by 33.1 per cent in 2021 to $1,601,467. By comparison, Melbourne’s rose 18.6 per cent to $1,101,612.
With the federal election on the 22nd May and fears of an imminent interest rate rise have combined to put Sydney’s housing market on ice, with buying and selling activity expected to drop over the next 6 weeks.
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Disclaimer: Not all Properties were bought or sold by TBAS® Buyers Agents. The Auction Results Sydney are compiled for research purposes to assist our valued clients in making educated decisions when purchasing proper