Sydney Property Market has “died in the arse” – Real Estate Agent

The Sydney Morning Herald has reported today that the Sydney Property Market has hit a brick wall with auction clearance rates falling, fewer visitors viewing open houses and buyers reluctant to commit.

The paper writes :

”None of the vendors are happy,” a Newtown agent, Ee Poh Ling, said. ”I’ve seen it before, in October 2003. It was hot as crazy. the following week I stood at an open and I said, ‘Did I forget to put an ad in, where are my buyers?’

Sharlene Purser, an agent in Marrickville, is blunt: ”It’s died in the arse.”

» Property market cools as buyers stay home – The Sydney Morning Herald, 22nd May 2010