The New Year - with rate rises and an upcoming election - has buyers more cautious on price, while owners still have expectations at pre-Christmas levels.
A newly renovated three-bedroom, two-bathroom terrace home at 149 Hargrave Street, Paddington, NSW. Sold prior to auction for $4.25 million.The newly renovated terrace home at 149 Hargrave Street in Sydney’s Paddington sold for $4.25 million.Two weeks last year and five weeks this year. We sold this to the renovator-owner last year [for $3.4 million in July].The owners were always at $4.4 million. We had an offer at $4.15 million and the owners said no.
The home sold when the vendors, who had held out for $4.4 million, accepted that the market wouldn’t pay that much.When we appraised it in September-October last year we thought $4.3 million, with a chance $4.4 million was achievable. But it became apparent towards the end of last year we weren’t going to get that. We thought between $4.15 and $4.25 million was the right money.The vendors and buyers are travelling on two different tracks.
a) Likely every week. I think it’ll become more frequent now, right up until the election as buyers are still pretty hesitant to act on anything and owners are still chasing premium prices from last year.
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.
Malcolm Turnbull helps Newcastle hacker bank $23m to fight NFT botsBot security business Kasada has started tracking NFT fraud, which has exploded alongside the frenzied activity in crypto markets.
Read more »
Thirty years since the daylight saving poll, a new generation deserves its sayMost Queensland voters did not get a say in the 1992 referendum. Thirty years on, it’s time to put the debate to bed.
Read more »
Australia reopens borders, welcomes tourists for the first time under COVID-19Australia has opened its international borders to all vaccinated tourists, nearly two years after the nation first imposed some of the world's strictest COVID-19 travel restrictions.
Read more »
How Alison Brahe-Daddo and Cameron Daddo saved their marriage and made it strongerModel turned author Alison Brahe-Daddo and actor husband Cameron Daddo talk about the highs and lows of 30 years of matrimony, and why they turned to a marriage counsellor to save theirs
Read more »
End of the dollar as we know it? Signs digital tokens are on the moneyRBA governor Philip Lowe says purses and wallets may be replaced by digital versions as central banks move to new forms of money in coming years. auspol RBA digitalcurrency
Read more »
Profits grow at Dan Murphy’s operator despite pubs lockdown hitMajor drinks retailer Endeavour Group has seen its profits grow over the first half of the new financial year despite repeated lockdowns damaging trade at the company’s pubs.
Read more »