The Sydney home owners slashing their price expectations to sell

Credit:It was the largest discount across the capital cities, and Sydney’s highest discount since September 2019, when the city was emerging from the previous market downturn.

Rising discounting showed buyers that offers below advertised prices were commonly being accepted, Powell said. For sellers, it highlighted the importance of accurate pricing to secure a timely sale in a market where buyer demand and spending power had been reduced by rising interest rates. Matthew Hayson, director of CobdenHayson, said private treaty house sales were in the minority in his market. Most houses were still listed for auction campaigns.

“We have noticed a huge amount of price reduction emails, they’re flooding my inbox … I have half a dozen from [Monday],” she said. B and C grade homes had the largest reductions, Stier said. However, reduced borrowing power meant many buyers had to make further compromises in their property search.

Why is it called a ‘discount’?

Get used to this. The bubble has burst, but it’s a slow release. Interest rates have gone all the way up to 1.85%. It will be 3% soon & cld surpass RBAs target range north of that in the new year. Ppl buying on emergency rates, who over extended, will lose homes. Lots of them.

I was referred to this platform by a friend I thought it was a scam company but I was moved to give a try and here I earned I just wanted to share this to people thank you so much ponomereko_62

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