PHOTO: An auction in Whalan, in the Mount Druitt area. Auction clearance rates have been falling in recent weeks. Picture: Jenny Evans Source: News Corp Australia
Spring auction conditions set to shift to best in nearly 30 years
HOME seekers will have an opportunity of a lifetime to bag a bargain at auction this spring as the market verges toward buying conditions not witnessed since the late 1980s.
T’S the chance of a lifetime for desperate Sydney house hunters to finally clamber onto the property ladder.
After years of rocketing figures that priced many people out of the market, spring is set to hatch the best opportunity for auction buyers in almost 30 years.
In a huge shift from what has been very much a sellers’ market, buyers will now have the upper hand, experts are forecasting only about 30-40 per cent of the properties due to go to auction in the next few months are expected to sell under the hammer — with the vast majority of the rest later selling at a discount.
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