People buying property in Australia are showing some caution as selling times lengthen.
The high-end Australian properties on the market in Sydney are taking longer to sell than average in the current climate, according to research.
Buyers are showing signs of caution, with the top-end houses averaging 173 days on the market before sale, Australian Property Monitors figures have shown.
The average across the city is 85 days on the market before being snapped-up, the Sydney Morning Herald reported.
Australian property agent Bill Bridges told the news provider that sellers are yet to accept weakened prices.
"But it's only a matter of time," he commented.
The next 25 years are expected to see strong growth for New South Wales, with central Sydney one of the areas the state government has said will boom.
Population increases will help the state's regional economy, explained minister for planning Tony Kelly, with Australian property markets in the state also set to benefit.
Posted by Craig Francis
The high-end Australian properties on the market in Sydney are taking longer to sell than average in the current climate, according to research.
Buyers are showing signs of caution, with the top-end houses averaging 173 days on the market before sale, Australian Property Monitors figures have shown.
The average across the city is 85 days on the market before being snapped-up, the Sydney Morning Herald reported.
Australian property agent Bill Bridges told the news provider that sellers are yet to accept weakened prices.
"But it's only a matter of time," he commented.
The next 25 years are expected to see strong growth for New South Wales, with central Sydney one of the areas the state government has said will boom.
Population increases will help the state's regional economy, explained minister for planning Tony Kelly, with Australian property markets in the state also set to benefit.
Posted by Craig Francis
