Sydney property sales plummet as buyers walk away
Sydney's property market is experiencing a significant downturn, with new home sales across the state plummeting 25% in August alone, reaching their lowest level in over 12 months. Units in suburbs including Blacktown, Strathfield, Ku-ring-gai, Ryde and Parramatta are seeing 11% or more selling at a loss, with Strathfield recording an average loss of $64,000. However, properties held for a decade or more continue to show substantial profits, with gains exceeding $1.1 million in areas like Hornsby, Ku-ring-gai, the Northern Beaches and Randwick, and reaching $1.4 million in Willoughby.See…
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