Tuesday, 18 July 2017

Real estate hits breaks

I think of this part of the following linked article as being a very diplomatic way of suggesting that the Australian housing market is hitting the proverbial fan:

"Properties with features buyers tend not to like, like being on a busy road, south facing or having lots of steps, are taking longer to sell and at lower prices," Mr Cunningham said.
"This is basically the market just returning back to normal. It was only in the last few years that almost every type of home was selling well but we're getting back to how it used to be when the best homes got the best prices."
Owners of ramshackle Sydney homes have responded to the slowdown by rushing their properties to market in the hope of selling before listing numbers increase even further.



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