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NSW: Inner Sydney has become a fertile hunting ground for bargain hunters

22D ago 0 Replies 23 Views
Inner Sydney has become a fertile hunting ground for bargain hunters as panicked investors try to offload apartments at lower prices in the hope of speeding through sales.
Apartments in the CBD and surrounds have recently been listed at more than $250,000 below the prices they were listed at before the pandemic hit, with some listed as “must be sold” or “urgent sale”.
The deals have come as sales data revealed unit prices in the region dropped by an average of 8 per cent over the past three months…

This would force investor to make further price cuts. “The inner city unit market is Sydney’s weakest and will probably remain so until international travel restrictions are lifted,”

The latest dwelling approvals data for Melbourne shows that its dwelling supply pipeline remains strong, suggesting the oversupply (and rental vacancies) will only grow from here:


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