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They included Haymarket, Chippendale, Harris Park, Westmead, Northmead, Auburn, Merrylands and the Parramatta CBD.There were also some low-density suburbs where prices became “overvalued” during last year’s housing boom and have since been falling back as buyers seek out more affordable options elsewhere.
Mr Christopher added that the discrepancy in performance across sectors of the market was influenced by how interest rates affected different buyers. He said other factors weighing down prices were that fewer buyers were in the marketplace because of concern over where interest rates would end up.
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