mishtalk.com / Mike “Mish” Shedlock / July 16, 2017
Home supply in Australia is up with the number of bidders down. Supposedly this puts prices in the bargain range.
For example, you could buy any of the following beauties for $2 million or so, a ‘Bargain’ on Real Estate’s ‘Super Saturday’.
That auction took place yesterday. Today, the results are posted. First, let’s investigate some asking prices.
Basically, Back to Normal
Several houses up for sale this weekend required major renovations were selling for around $1.7m.
Real Estate Institute of NSW president John Cunningham said buyers could compete for homes this weekend with the pressure easing.
Properties with features buyers tend not to like – like being south-facing, on a busy road or having lots of steps – are taking longer to sell and at lower prices,” Mr. Cunningham said.
While these houses are still not cheap, they have major potential.
“This is basically the market just returning to normal.”
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