‘Probably wise’ for Sydney residents to hold off on selling homes

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The Switzer Report founder Peter Switzer says it is “probably wise” for Sydney residents to wait before selling their homes as close to 30 per cent of properties up for auction last week were pulled

.

“The buyers will eventually come back, particularly if the supply of houses actually falls,” he told Sky News Australia.“So even a 30 per cent fall would still leave somebody 25 per cent better off.”

 

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Has anyone explained to you how percentages work? A 30% decline following 55% growth is 1.55 * 0.7 which gives 8.5% growth (not 30%). You can't add and subtract percentages 🤦‍♂️🤦‍♂️

Wouldn't wait too long or your mortgage will be more than house value.

Not a big deal.......Its just market forces working, its been happing for decades.

Damn. Guess I have to wait a while before buying that cosy $30 million carport.

The crash is coming

That won’t help anyone

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