{"id":32644,"date":"2021-06-02T13:12:44","date_gmt":"2021-06-02T01:12:44","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=32644"},"modified":"2021-06-02T13:12:44","modified_gmt":"2021-06-02T01:12:44","slug":"australias-property-boom-shows-no-sign-of-slowing-down","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/australias-property-boom-shows-no-sign-of-slowing-down\/","title":{"rendered":"Australia\u2019s property boom shows no sign of slowing down"},"content":{"rendered":"<p><strong>PHOTO: <span class=\"dcr-19x4pdv\">Prospective buyers line up at 12 Manchester Street in Dulwich Hill. Price guide $1.2m, sold for $1.36m.\u00a0<\/span>Photograph: Blake Sharp-Wiggins\/The Guardian<\/strong><\/p>\n<p>Prospective buyers increasingly complain that price guide <a href=\"https:\/\/propertynoise.co.nz\/au\/?s=underquoting&amp;submit=Search\">underquoting<\/a> is rife as <a href=\"https:\/\/propertynoise.co.nz\/au\/?s=Sydney+property&amp;submit=Search\">Sydney property<\/a> prices skyrocket<\/p>\n<p class=\"dcr-s23rjr\"><span class=\"dcr-s23rjr\">Every three or four weeks, the neighbours say, the scene is the same. It is a cold Saturday morning in Dulwich Hill in Sydney\u2019s inner west, and dozens of hopeful buyers have turned out for an auction. It\u2019s a two-bedroom house on a nice street, near the park. The price guide is $1.25m. The street is full, and every one is wary.<\/span><\/p>\n<p class=\"dcr-s23rjr\">Michael and Tom, a young couple, are there \u2013 along with Michael\u2019s family for support. They say that house hunting is \u201chell\u201d.<\/p>\n<p class=\"dcr-s23rjr\">\u201cYou could write 20 pages on the young people [who can\u2019t get into the market],\u201d Michael\u2019s mum tells Guardian Australia.<\/p>\n<p class=\"dcr-s23rjr\">\u201cOne auction last weekend went for about $400,000 above [the price guide],\u201d Michael says. \u201cSo, it\u2019s been hell. Pre-approval takes forever now. And it\u2019s just, well, the guides are ridiculously low. For every property. Every property.\u201d<\/p>\n<p class=\"dcr-s23rjr\">As Sydney\u2019s property prices skyrocket,\u00a0rising a record 8.5% in only the past three months, prospective buyers increasingly complain that price guide underquoting is rife in the industry.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.theguardian.com\/global\/2021\/may\/29\/its-been-hell-underquoting-in-hot-housing-market-frustrates-young-buyers\">THE GUARDIAN<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Prospective buyers line up at 12 Manchester Street in<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/australias-property-boom-shows-no-sign-of-slowing-down\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":32645,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478116310,478098512,478115855,478108952,478115322,478098566,478098519,478098535,478098513,478098873,478098579,478098510,478098616,478098514,478098511,478098705,478098533,478098828,478098921,478098509,478098536,478098618,478099782,478099457],"class_list":["entry","author-data123nz","post-32644","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-12-manchester-street","tag-australia","tag-australias-property-boom","tag-covid-19","tag-dulwich-hill","tag-first-home-buyers","tag-home-ownership","tag-house-prices","tag-property","tag-property-investment","tag-property-market","tag-property-news","tag-property-prices","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-agents","tag-real-estate-franchise","tag-real-estate-news","tag-sydney","tag-sydney-property","tag-sydney-property-prices","tag-underquoting"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - 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