Interest rate hike strains property market

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The turmoil in Sydney’s real estate market has been exposed in new figures showing some property prices have crashed by more than 20 per cent while others have risen by almost the same amount.

New data revealed the biggest recent drops in Sydney prices, with houses in Mulgoa and units in Tarren Point down 22 per cent.However, in Balmain East, Concord West, Waterloo, and The Rocks, there’s been double-digit growth.

“The reality is, the prices have adjust over the last couple of months, but of course, there is a lot of good value,” Ray White Auctioneer Tim Snell said.

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Good all Australian property an land prices are inflated by at least twice or more of there actual price so the government gets more tax keeping an the poor out of home ownership while bring in more economic migrants driving prices up more

Hey sky news how’s the ratings these days? Ha ha

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