Home vendors are trying to get the upper hand in a buyer’s market as they wait for a long-predicted interest rate cut to spark demand.
The tennis champ did a bathroom and kitchen renovation but will have to wait and see if she makes her money back on the three-bedroom townhouse.
Even where homes are not necessarily affordable,there are some substantial price reductions on offer to potential buyers.
Australians spent a record amount on property last year and are pinning their hopes on an interest rate cut in February.
The winning home from the 2016 season of The Block has sold for a $625,000 loss after the price guide was lowered several times.
With more homes for sale and buyers taking longer to make up their minds,sellers are spending top dollar to stand out from the crowd in a bid to get deals done.
Household spending on swimming pool sales and services rose 13 per cent over the year to December,research shows.
Higher interest rates have slashed the borrowing capacity of buyers seeking large mortgages – and even wealthy suburbs haven’t been spared.
A tenant on a median household income would need to spend a third of it to rent the median home,the highest proportion on record.
The property is changing hands for the first time in about 70 years,but another of the family’s homes could be yours for $100 million.