Auction Results Sydney 5 September 2020
Auction Results Sydney
Comment: Auction Results Sydney
The falls in home prices in Sydney is tapering off, due to relatively strong upsizer activity and fewer homeowners putting their properties up for sale. The median price of a Sydney dwelling is now about $860,000 – 2.6 per cent lower than it was four months ago but 9.8 per cent higher than a year ago.
APAC economist Callam Pickering said, “While a recession is devastating for many, it can often be an opportunity for others to build wealth by buying underpriced assets,” he said. “Higher-income or wealth households, many unaffected by COVID-19, would be licking their lips as property prices fall.”
Houses with backyards have been getting harder to come by across much of Sydney within a 10km radius of the CBD. There is only 100 houses for sale under $1.5m, with the opposite occurring with the inner city apartment market, with supply rising and investor running scared.
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