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Australians hold highest household debt record

Sydney named “extreme seller’s market”

The latest Commonwealth Bank/CoreLogic Home Buyers Index (HBI) found that the number of new mortgages processed by CBA largely outpaced the number of properties advertised for sale in the city.   This means that if you’re planning to buy in Sydney you have practically no chance of negotiating down the price, as buyers compete for this limited supply.   Melbourne sellers also still hold the upper hand when it comes to negotiating a sale, according to the report.   On the opposite end of the spectrum, vendors in Tasmania are at the mercy of buyers with the report naming it the “extreme buyer’s market”, thanks to a large number of listings against the number of mortgage commitments.

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