Sydney’s property market flatlines as demand plummets | 7NEWS
Video Overview & Insights
There is more evidence of Sydney's flatlining property market, with some mid-week open homes attracting almost zero buyer interest.
It’s because the mortgage rate is way too high, the buyers have lower bowing power than ever, that’s why no one is buying.
One property baron has declared the market dead, asking why anyone would purchase now when prices are likely to fall further.
Subscribe and set 🔔 » https://7news.link/YTSubscribe |
Houses in Sydney are going up, 33 rosehill street parramatta now for 2.2m.....
"demand plummets" what you thought with these prices it would go up?!? 🙄
For the latest Australian news and breaking news alerts, connect with 7NEWS online:
Visit » https://7news.com.au
Care factor
7Plus » https://7plus.com.au/
7NEWS Podcast » https://open.spotify.com/user/dm9fk9hzoe68ibpttheragdgi
Good. I hope all the real estate agents, property barons and anyone who price gouged get absolutely screwed
Facebook » https://www.facebook.com/7NewsAustralia
TikTok » https://www.tiktok.com/@7newsaustralia
What a beat-up. Demand hasn't "plummeted" at all. It has dropped off a little bit in some areas. If this continues to occur over a long period then we might have a problem. A recent survey has shown that most Australians want house prices to fall or at least rise very slowly (me included). Most people (excluding the media) are now starting to see the benefits of the budget (something foreign to the media). Changes in house pricing will vary depending on location and price range.
Instagram » https://www.instagram.com/7newsaustralia/
X » https://x.com/7NewsAustralia
Welcome to Australia's overpriced, overhyped property market.
Buy an apartment and congratulations, you don't really own land, you own a slice of air. Enjoy your luxury vertical prison, carefully assembled from plastic looking materials by the lowest bidder, at record speed. Built by dodgy developers, signed off just enough to sell, while everyone pretends future repair bills won't exist. But hey, it looks shiny in the brochure, and that's what really matters.
Good luck with your floating box in the sky!
7NEWS combines the trusted and powerful news brands including Sunrise, The Morning Show, Spotlight and 7NEWS.com.au, delivering unique, engaging and continuous coverage on the issues that matter most to Australians. Watch 7 News Australia full broadcasts and full episodes at 6pm and weekdays at 12pm and 4pm on Channel 7 and 7plus.
#BREAKINGNEWS #7NEWS
If only Sydney is too bad, why people don't go to Adelaide, Perth, or any other city in Australia??
I assume the situation is much better there???
More User Perspectives
Bahahahahahahahahahahahahahhahaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa buy a Meriton and you'll cry 🤣
@Grandmaster_Redhouse price crash means a host of companies to go under and unemployment to go up, brace yourself 😅
@g.c955Bla Bla Bla drible drible drible nobody wants to buy a money pit.
@boshkoboki1251Great to see sydney property is not worth the prices
@jM-ez7fqComments open....? *Another government survey 😂
@benjaminJrabbittime to buy 10 properties. all for me. foreigners the winners
@MrMcnamexSome insider trading/corruption by Albanese that is completely ignored by the media.
@wynstonsmyth6425It just proves how much investors were inflating the market. First home buyers can only buy within their means, so if prices are adjusting to what they can actually afford, or the banks are happy to lend then it shows how detached from reality the market had become.
@Mm22300House prices are tumbling to a more realistic level. And that level is around 25% off the current crazy level.
@Danny-o2vIf the government had abolished negative gearing two years ago, the rise in property prices would have been much lower. Property prices was increased just because of investors, local people bought to save taxes
@VickyVicky-d3y"Wha you mean you buy house but no make money, you crazy"
@sherazukihalf a mil for a shitty 1 bedroom? LOL
@theboythatdidxEconomic downturn here we come
@ScottiedowawaGood for younger people. Bad for housing investors. Contentious only for the already affluent.
@timkeegan2745Hcĥhĥh Dr ffff c I hffhu
@manojthapa3902Thanks Albo
@andrewf3346hang on there guys, it will fall more. the prices are going down
@MrDomCJConfidence is essential to buying anything, properties , cars etc. Right now, confidence on this government is very low. Potential buyers are concerned with this long term financial commitment when they do not have confidence on the economy, on how this government is managing the economy, and on the security of their jobs.
@kelvinlow6020If Sydneys median house price of 1.6m crashed 30% it would still be unaffordable.
@MichaelCowannLi Hsien loong repeatedly stole money to himself to cover up for his family's drug trafficking, prostitute trafficking and robberies all tied to WONG kan Seng, Chan Sek keong, NG Joo Hee, Ho Ching, they are breaking into homes repeatedly to steal with different locksmiths tied to the Singapore Police in robberies with prostitutes Fann WONG, Jeanette AW, tied to mediacorp producers running escort agencies in drug trafficking, prostitute trafficking and robberies all tied to Fann WONG, NG Joo Hee, Melvin YONG Yik Chye, Roslee Bin Khalid, Chan Wei Hong, Dexter NG. Li Hsien loong repeatedly stole millions of dollars to himself. With Lawrence POH hock guan, Wayne Li, LIN YIH, Savills management office staff tied to Elizabeth and her indian, Anne, Kate Middleton and Megan Markle. Tharman, TAN Chuan Jin, Loke Wei Sue plotted all your WARs with the Japanese tied to Li Hsien loong's family members inside his cabinet. They stole money and other peoples property to resell for CASH by breaking into homes repeatedly non stop, then stole all the TAX payers CASH during the pandemic with WONG kan Seng.
@natureallseasonsgood
@thechildhoodruiner15Harry .. "I am going to flood and ruin the market if I don't get what I want" ........ totally nice guy that cares about the average person.
@judithgopnik9744GOOD! About time!
@offclan2141Almost every property is a hyped one and doesn't even close to what it has to offer, credit goes to agents and builders who are just printing money, half a million for 1 bhk 😂😂
@hashk2279Do not build any more new homes until the prices rise again. Labor is really stupid.
@YingjunRuan-hd6emAustralian real estate is waaaay over priced but it is also having a population boom. People aren't buying because they know they will get cheaper. How much cheaper though is a guess.
@fatwombat2611All these apartments are about as valuable as a piece of shit.... and at least shit is organic. The quality is crap, yet prices are wildly inflated, riddled with defects, and burdened by ever rising strata fees. You’d be far better off investing in shares, where you can actually own a genuinely valuable asset. Buying low quality apartments in Sydney frankly, almost any apartment on the market, is a terrible decision. Most people who did so have lost money.
@m.p.7823Boomers hate a free market when it doesn't do what they want
@nonononon0-b5kStop with all this good news it's making me too excited
@nonononon0-b5kNotices how comments are open for this but when blacks stab and break into houses comments are closed?
@TopGFPVGrubby little albo and burqa have the solution. Bring in more people who don't belong. That will boost prices.
@donduck2420CRAZY TO BUY NEW.
@johnnyb002Must go down 20% to 25%
@ItIt30You'd be crazy to buy now.
@SkippyTheRedKangarooYep, what a surprise.....
@facttumble