Auction Results Sydney 23 October 2021
Auction Results Sydney
Comment: Auction Results Sydney
The Sydney Real Estate market is officially out of control. Queues of 40-50 people to inspect units on the Lower North Shore that aren’t liveable and houses around Penrith selling immediately after the first open for inspections.
Sydney property prices are overvalued, but there’s little relief in sight for homebuyers as property prices are likely to keep rising unless interest rates go up according to a report from investment bank UBS.
NAB slightly revised up its dwelling price growth forecasts for Sydney to 27.5 per cent for 2021. AMP Capital chief economist Shane Oliver said he did not expect prices to continue to rise at the same boom-time pace and expected a modest price rise of 7 per cent during 2022.
The number of properties failing to sell at auction has risen in Sydney between August & September by 1.9 percentage points from 6.9 per cent to 8.8 per cent, with a sign vendors are getting greedy. “If a property is not selling when there’s lots of competition at auction then it has been priced too high,” said Ray White NSW chief auctioneer Alex Pattaro.
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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