Sydney’s once booming property market is expected to shift in buyers’ favour this year as homeowners flood the market with new listings and housing demand continues to drop.
Experts said the increase in the number of available properties will give home seekers more choice and remove pressure to make snap purchasing decisions.It would also put a brake on the runaway growth in prices recorded over much of 2021, when Sydney’s median home price ballooned by nearly 25 per cent – the biggest annual rise since 1989.
“It will be a calmer market this year,” Ms Conisbee said. “That will be good news for buyers who found it challenging to get into the market last year because things moved so quickly.”
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