Deck the halls in a new home
SYDNEY homebuyers will be able to land their biggest bargains ever this Christmas, with some of the best deals on offer in a decade.
Buyers have nabbed properties for up to half a million dollars below their listed prices this spring — and the deals are expected to get even better leading into December 25.
With the housing market cooling, experts believe the December-January period will offer some of the best opportunities for buyers to get a deal.
The biggest price discounts will come from frustrated sellers who listed their homes months ago but have yet to sell.
Many of these homeowners will be eager to sell and would be looking to “get rid” of their homes before the start of the new school year.
Roughly four in five homes that sold over the year to November did so at below their listed price, with the average discount at 7.3 per cent, CoreLogic figures showed.
Such frequent discounting was last recorded in 2008 and was a far cry from 2015 when more than three quarters of properties sold for above the original listed price.
First homebuyer Joey Vasile (pictured) said the changing market conditions helped him nab a new unit in Rosebery.
“There’s a lot of homes out there now, so you have lots of choice,” he said.