{"id":32912,"date":"2021-06-17T15:01:47","date_gmt":"2021-06-17T03:01:47","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=32912"},"modified":"2021-06-17T15:01:47","modified_gmt":"2021-06-17T03:01:47","slug":"crazy-sydney-real-estate-prices-will-hurt-all-aussies-trying-to-buy","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/crazy-sydney-real-estate-prices-will-hurt-all-aussies-trying-to-buy\/","title":{"rendered":"Crazy Sydney real estate prices will hurt all Aussies trying to buy"},"content":{"rendered":"

PHOTO: Sydney, Australia. FILE<\/strong><\/p>\n

OPINION<\/strong><\/p>\n

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Like many first-time buyers<\/a>, when I dipped my toe into the Sydney housing market<\/a> in March 2021, I was realistic but optimistic.<\/p>\n

My partner and I didn\u2019t need anything fancy \u2013 just a two-bed apartment with a parking space and maybe a small balcony. Having spent over five years saving up a healthy six-figure deposit, we were easily approved for a mortgage but equally knew we couldn\u2019t stray above our limit.<\/p>\n

Three months on and we\u2019ve all but given up.<\/p>\n

It turns out Sydney\u2019s property market is almost impossible for anyone who isn\u2019t a rich investor or being bank rolled by Mum and Dad.<\/p>\n

Guide prices are complete BS<\/b><\/span><\/p>\n

One of the most frustrating things about trying to buy in Sydney is that\u00a0guide prices set by real estate agents\u00a0seem to be a thing of fantasy.<\/p>\n

As an example, in April a two-bedroom apartment in Randwick was listed with a guide price of $850,000. The open home was full of optimistic wannabe first-time buyers hoping this would be their step on the ladder. But when the auction came around on May 15 it sold for over $1 million \u2013 $185,000 over the guide price.<\/p>\n

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