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Sydney real estate the market began to recover, but "polarization" is serious

Source: xkb.com.au
[Economic News]     21 Jun 2020
Sydney's real estate market experienced a severe "dichotomy" after the outbreak of the new crown, mainly due to the impact of the implementation of the "seal order" Sydney home buyers action. A dilapidated row house in Sydney's Darling Hearst (Darlinghurst) district has been sold for more than $4.6 million. At the moment, the house floor rotted, the ceiling fell, the balcony collapsed and had been...

 

随着疫情趋于稳定,悉尼房地产市场正在复苏(九号新闻台图)
 

Sydney`s real estate market experienced a severe "dichotomy" after the outbreak of the new crown, mainly due to the impact of the implementation of the "seal order" Sydney home buyers action.

A dilapidated row house in Sydney`s Darling Hearst (Darlinghurst) district has been sold for more than $4.6 million. At the moment, the house floor rotted, the ceiling fell, the balcony collapsed and had been blisters, but the price was a $1 million higher than the bottom price marked by the seller. As it is understood, buyers may need to pay an additional $2 million in future for the renovation of the house.


Downtown Sydney`s "Garbage House" is priced at $3.6 million

Furthermore, a three-bedroom house in New Town (Newtown) was sold at a price of $400,000 above the floor price.

But not all parts of Sydney have a premium in real estate markets. The value of sydney`s real estate has risen sharply in parts of the country since april, according to data Domain on real estate`s website, including 188 per cent in st george (St George),95 per cent in the northern suburbs (North Suburbs),64 per cent in nye west and 42 per cent in canterbury bank.

Yet experts say buyers can buy cheap house. in the suburbs of north ryder (North Ryde), palamata (Parramatta), kens (Campsie) and granville (Granville), where some apartments are even cheaper than they were five years ago.

"I think that will encourage consumers to return to the real estate market to some extent ," seller Samantha Eitken (Samantha Aitken) told News 9. "

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