The real estate bubble burst in Sydney and Epping-North Epping was one of the most seriously injured areas, according to a new report.
Kushr (Cameron Kusher), head of Australian research at CoreLogic, reported that home prices in capital cities fell 7.2 percent in the past year to April, while Sydney house prices fell 10.9 percent over the same period.
However, the situation is much worse in many of the suburbs of the Central Ring Road. The value of homes in the Epping-North Epping area fell 19.1 per cent.
Of the five Sydney regions that have recently been hit by market conditions, Epping-North Epping ranks second. Bass Hill-Georges Hall was the only region that performed worse, down 19.4 per cent.
McGrath Epping`s Oakland (Betty Ockerlander) said she expected Epping-North Epping to fall between 20 and 25 percent.
"when the market is crazy, Epping-North Epping is more than just crazy," Oakland said. In this beautiful and quiet place, there are no apartments and few villas or townhouses catch up with Epping, so when Sydney`s north coast experienced a 40 per cent price rise, we reached 75 per cent-well above this line. "
Auckland added that she currently has a listed set of real estate, Norfolk Rd 111 in North Epping, which can be sold for about 1.6 million yuan in mid-2017.
Two years later, the house is priced at 1.18 million yuan, and she hopes to sell for more than 1.2 million yuan at the auction on May 25.
Oakland believes that after five years of "upheavals", the real estate market is now stable. It is to be known that these five years: overseas buyers are on their hands, and the price of ordinary independent houses is far too high on the land that is planned for high-density residential development.
She said the findings of the Royal Banking Commission and stricter restrictions on foreign investment had contributed to greater market stability.
"sellers have accepted changing markets and buyers are more confident."
