Buyers gripped by ‘fear-of-missing-out-disease’

As Sydney’s property market “sizzles” homebuyers are catching “fear-of-missing-out disease”.

Property values shot up 2.7 per cent in June, according to RP Data, and Australian Property Monitors auction clearance rates averaged 75 per cent in June.

It’s a far cry from June 2014 when the Sydney average was 54.5 per cent.

Although the improving market is encouraging many sellers to put their homes on the market – APM recorded the second-highest number of June auction listings this year and the highest number of June auction sales –  agents are still complaining of a stock shortage in many suburbs.

Read the full Sydney Morning Herald article here.

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