PHOTO: Hans and Alicia Beck at their Kingsford home up for auction. Picture: Sam Ruttyn Source: News Corp Australia
Savvy Sydney buyers can snap up homes at bargain prices as the property market continues its slide in what experts predict will be an unprecedented spring selling season.
First-home buyers with their eyes on out-of-reach suburbs may be able to expand their search area if expert predictions that Sydney values could fall by at least 10 per cent in the next year are realised.
Sydney’s median home price has already dropped by about 2.6 per cent over the past four months, research from CoreLogic revealed.
Further price falls would likely equate to an additional 0.5-1 per cent drop in values each month until midway through 2021.
But major differences have already emerged in city regions, with housing experts revealing an increase in families wanting better houses could lift detached house values in some areas.
Meanwhile, sellers in areas heavily supplied with units will have to slash prices because of a drop in activity from investors.
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