Auction trend shifts power to buyers Sydneyauctions SydneyRealEstate Sydneyproperty
These sales comprised just over half the results collected last week, while properties that passed in at auction accounted for an additional 18 per cent of results.
Sellers who “met the market” by dropping their expectations, either before or during auction, were much more likely to sell. With more interest rate rises expected to slow buyer demand, property pundits warned sellers may be under more pressure to cut their prices as the year drags on. “Our overall outlook for the market remains unchanged in that we expect price falls of up to 8 per cent this year for Melbourne and Sydney and low net single digit growth for the other cities.”
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