The unwinding of the post-pandemic boom market for holiday properties has triggered a stand-off between luxurious Sydney developers and the seller of a prime Victorian site. Valuers are predicting house costs to increase nationwide over the subsequent 12 months, led by Sydney, Perth and Adelaide. And over within the rental market, it’s “The Hunger Games,” as rents skyrocket and would-be renters in cities across the country compete with dozens of other applicants. The frenzied setting we had turn into accustomed to — with its eye-popping price will increase and bidding wars that left consumers dejected and sellers giddy — all of a sudden seemed to be a thing of the previous.
- Like international investment, it’s a great deal to spend money on a property or real…
- House costs are overvalued by as much as a third in some cities, however specialists warn they’re unlikely to fall again to a fairer level.
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