Gavel-lanche: The year Sydney’s auction market went crazy

South Africa News News

Gavel-lanche: The year Sydney’s auction market went crazy
South Africa South Africa Latest News,South Africa South Africa Headlines

Sydney’s property market has never seen a year like 2021, with low stock levels and even lower interest rates fuelling rapid price growth.

  • 📰 smh
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 80%

Two weeks later, 43 house hunters tuned in for the auction ofThe $7.02 million sale of a Haberfield house in September left agents and locals shocked.

“There was pretty much one reason underpinning it; a complete lack of stock. Prices were growing at the rate of knots and buyers had FOMO [fear of missing out],” he said. Those that did turn out to auctions increasingly started the bidding well below price guides, or waited for a vendor bid to open the auction, and a growing number of properties failed to meet seller expectations.the median house price pulled back to $1.95 million

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

smh /  🏆 6. in ZA
 

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The market that finished 2021 in first place with ‘extraordinary’ growthThe market that finished 2021 in first place with ‘extraordinary’ growthBrisbane has finished the year as Australia’s fastest-growing property market, with property prices continuing to rise as Sydney and Melbourne’s markets are slowing down.
Read more »



Render Time: 2025-01-16 12:31:44