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Property boom sees investors return to the market, adding to the pain of first-home buyers
Property boom sees investors return to the market, adding to the pain of first-home buyers 1 June 2021 Matthew Hughes Article by: Rhiana Whitson, Reporter Source: ABC News June 01, 2021 Investors are returning to the property market across Australia. (ABC News: John Gunn) It’s a sunny Saturday morning in suburban Sydney and a nervous group of would-be buyers and onlookers watch as the price of a five bedroom brick house climbs higher and higher. Half of the eight registered bidders are investors. But in the end it’s owner-occupier Simon Isaacs who places the winning bid. A cool $1.5 million, about $300,000 over the reserve. How does Mr Isaacs feel? “Really good, because in my head I thought ‘we are not going to get it,'” he said. He was worried about being outbid by an investor. “You hear people ask ‘how much could I rent this out for’ and you think ‘wow, we are a family and there is someone wanting to buy it to rent it out,'” he said. Simon Isaacs had been worried about being outbid by an investor at auction. (ABC News: John Gunn ) Real estate agent at Ray White Sutherland Shire, Adam Crawley, said landlords are trickling back into the market and pushing up property prices as a re
Article by: Rhiana Whitson, Reporter Source: ABC News June 01, 2021 It’s a sunny Saturday… Read Article