Sellers’ market as Australian property prices rise and buyers line up – NEWS.com.au

Supply is down and demand is up in Australias housing market, with properties selling for tens of thousands of dollars above the asking price as buyers battle it out to secure a property.“It’s definitely a sellers’ market,” Real Estate Australia chief economist Nerida Conisbee told news.com.au.
Record-low interest rates as well as our changing savings habits on the back of the COVID-19 pandemic is driving the boom.
“We’ve had record savings rates during COVID which has given people a lot more money…

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