The Real Estate Board of Australia (REBA) has confirmed that there will be a record $4.2 billion sale of $9bn of Sydney’s most valuable real estate in 2018.
The auction will take place in July.
The average sale price of a Sydney property this year was $2.2 million, according to REBA.
“A record number of buyers will be able to enter the market this year,” REBA said in a statement.
“This represents a significant increase over the previous record sale of just over $1 million in 2018, and marks a new low for Sydney.” “
It comes as the Government looks to boost housing affordability and help renters. “
This represents a significant increase over the previous record sale of just over $1 million in 2018, and marks a new low for Sydney.”
It comes as the Government looks to boost housing affordability and help renters.
In the 2017-18 financial year, the average Sydney house sold for just $1,822,000, while the average sale of a two bedroom was $1-1.4 million.
The Government will announce its next Housing Plan in February, and is expected to use the announcement to boost the housing stock.
