'Reversal of fortunes': Sydney house price revival a boon for sellers, bleak for first home buyers

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Resurgent housing prices in Sydney will boost high-end property sellers, but those still saving for their first home are likely to be frustrated by the recent market lift.

Sydney's resurgent property market will boost those looking to upgrade, but the outlook is bleak for first home buyers, according to real estate agents.The number of houses for sale this season is down by around 33 per cent compared to last year

Since May, several factors have contributed to property prices rising and a return of confidence for homebuyers and sellers alike. Political stability has also played a significant role, particularly on the higher-end of the property market, according to analysts and real estate agents who have reported an upswing in sales.

 

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Smoke and mirrors. Lack of supply gives the illusion of increased activity but the market is way over priced and will correct over the next year or two

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