Sydney’s property market has never seen a year like 2021, with low stock levels and even lower interest rates fuelling rapid price growth.
Two weeks later, 43 house hunters tuned in for the auction ofThe $7.02 million sale of a Haberfield house in September left agents and locals shocked.
“There was pretty much one reason underpinning it; a complete lack of stock. Prices were growing at the rate of knots and buyers had FOMO [fear of missing out],” he said. Those that did turn out to auctions increasingly started the bidding well below price guides, or waited for a vendor bid to open the auction, and a growing number of properties failed to meet seller expectations.the median house price pulled back to $1.95 million
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The market that finished 2021 in first place with ‘extraordinary’ growthBrisbane has finished the year as Australia’s fastest-growing property market, with property prices continuing to rise as Sydney and Melbourne’s markets are slowing down.
Read more »
Sydney auctions: Malabar dump next to Long Bay prison sells for $900k over reserve - realestate.com.auA rundown house that shares a wall with one of Sydney’s most notorious prisons has sold for more than $900,000 over reserve at an auction described as “emotionally charged”.
Read more »
Auction records smashed in pre-Christmas real estate frenzyAustralia records its busiest ever month for auctions during a period when the real estate market is usually winding down for Christmas.
Read more »
Earthquake-proof steel cask carrying 2t of radioactive waste to arrive in Sydney next yearNuclear waste has been reprocessed in the UK and will be stored at Lucas Heights until Napandee facility is ready
Read more »
Aussie ETFs set to crack 2 million investors in 2022The number of Australians investing in exchange-traded funds surged 33 per cent to 1.73 million this year, as the booming market looks set to add another 275,000 consumers next year.
Read more »
Brookfield wins in Intellihub auctionBrookfield has emerged as the winner in the auction for smart metering business IntelliHub.
Read more »