The bright side of the downturn | The Real Estate Wrap with Leanne Pilkington
Welcome to this week’s Real Estate Wrap with Leanne Pilkington. From their most recent peak, house prices in Sydney have fallen nearly 10 per cent. However, a closer look at the demand fundamentals reveals a bright side to the current downturn.
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Welcome to our Real Estate Wrap for December 10th, the week commencing December 10th. I’m Leanne Pilkington, Managing Director of the Laing+Simmons franchise organisation and President of REINSW.
Well, there’s certainly still no good news on the house price front. We’ve come back in Sydney about 10 per cent now, but when you think about the fact that in the last upswing prices went up by 89 per cent, it’s probably not all that much of a tragedy, right?
There are still people buying and selling property. The last weekend in the Laing+Simmons network, there was a lot more activity than there had been in the months previous to that. I think people are just trying to get in and get deals done before Christmas.
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