‘Buyers’ property market in Sydney
08 October 2015 by News Desk
The residential property market in Sydney has turned, from being a sellers’ market to a buyers’ market.
After a year of under-supply that has seen house prices soar, there are now more people attempting to sell their property than there are buyer’s seeking to purchase.
According to a new report, there were more properties for sale in Sydney in September this year compared to a year ago.
There has been an 11.1% increase in the number of residential properties listed for sale in the city compared to the same period in 2014, according to SQM Research who say that latest figures indicate the Sydney housing market is now slowing down.
Darrell Todd of thinkingaustralia says: “With more properties now on the market, buyers have more choice. And while prices are still rising – although much slower than earlier in the year – current market trends mean that sellers will be forced to take a more realistic view and start to lower their asking price.”
