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NSW: Renters and first homebuyers have been calling the shots in the Sydney housing market

6D ago 0 Replies 8 Views
First homebuyer spending shot to an 11-year high in August, with housing experts revealing first-timers filled the void left by investors struggling to get loans for new purchases.
Investors once accounted for close to 60 per cent of all NSW property purchases, according to ABS research, and historically competed for the same properties as first homebuyers.

Lower rents were encouraging more investors to sell their properties, which widened the choice of homes available for first homebuyers, he said.
First homebuyers were then helping renters by vacating more properties and forcing the landlords to offer more competitive rent to attract a smaller pool of tenants.

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