Property market is expected to boom again after winter drop in Sydney

The article has written that after the spectacular boom times of the previous couple of years, the Sydney housing market has had a terrible winter. Prices have fallen substantially in recent months, but latest data suggests that things may be improving in time for spring.

One of the chief economists of My Housing Market Dr Andrew Wilson said there has seen an increase number of buyer and sellers in recent market. He said on that new portal, '' The time it takes to sell a property has just eased over the past month and auction clearance rates are certainly higher than they were over July. '' Latest domain data indicates there has seen surge in auction activity , They've risen for the third week in a row. They are up 13.5 percent across the country, but 16.5 percent in Sydney.

Real estate agents are also reporting that people has more interest for good property in good location. One of the real estate agents in Mount Vernon in Sydney's southwest said that he put the property on the market yesterday and they had over a hundred calls. And really he haven't experienced this level of inquiry on a property this year in this current climate. And that interest came not just from across Sydney, but around the world.

SOURCE: 9NEWS

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Data provided in this article is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.