A buyer’s agent is someone that acts as a middleman between property buyer and the real estate agent. In the market, sellers are eager to close out the deal with the highest price possible for any given property while buyers need to lock down the price at the lowest possible. If a property seller needs a selling agent (usually the real estate agent) to help them sell the property at the highest price possible, a buyer may hire a buyer’s agent that will help act as a middleman between both parties and negotiate for the lowest price possible, or at least reach a compromise between buyer and seller.
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Housing Boom is more Fiction than Fact
A new research, done by the Housing Industry Association, shows the different housing conditions in different cities other than Sydney and Melbourne.
The prices in Sydney have gone up by 19.3 per cent in real terms between 2010 and 2014, but they’ve only grown by 16.0 per cent in real terms during 2005 and 2014. Meanwhile, Melbourne price values increased by 6.7 per cent over 5 years and by 41.6 per cent over 10 years.
Sydney Dubbed “Extreme Sellers’ Market”
Best-selling market is an understatement when you’re talking about Sydney’s hot market. In fact, it’s now known as “extreme seller’s market” as dubbed by a new report. The latest Commonwealth Bank/CoreLogic Home Buyers Index (HBI) discovered that the number of new mortgages being processed by the CBA outpaced the number of properties advertised for sale in the city.
Sydney’s Housing Shortage Is Set To Increase Further
More People need More Houses
I recently read an article on the Your Investment Property Website about some fascinating research from the Property Council of Australia. The researchers found that the population NSW grew by 109,000 people last year alone, and 5 years before that the Greater Sydney population increased by as much as 326,568. This sudden yet continuous population growth calls for one thing…
The Rising Sydney Rents and Housing Prices
You read the title right: Sydney rents and prices continue to go up.
House prices in Sydney increased by 4.1% over the last quarter and unit prices are also going up by 3.1%. Over the past year, Sydney house prices went up by 19.97% with unit prices going over a sedate rate of 11.56%. Long story short, houses in Sydney will reach the price tag of $1 million within the year.
Rising Land Prices Cut Out FHBs Further
Andrew Wilson pitches in with news about the mad rush for land in the suburbs. This can mean further elbowing out of the first home buyers. Over the year 2014, Sydney’s median residential land price shot up by 19.7%. This is way ahead of the numbers registered by Melbourne and Brisbane.
