Sydney property sales plummet as buyers walk away | 7NEWS

By 7NEWS Australia

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Sydney's property market is experiencing a significant downturn, with new home sales across the state plummeting 25% in August alone, reaching their lowest level in over 12 months. Units in suburbs including Blacktown, Strathfield, Ku-ring-gai, Ryde and Parramatta are seeing 11% or more selling at a loss, with Strathfield recording an average loss of $64,000. However, properties held for a decade or more continue to show substantial profits, with gains exceeding $1.1 million in areas like Hornsby, Ku-ring-gai, the Northern Beaches and Randwick, and reaching $1.4 million in Willoughby. Subscribe and set 🔔 » https://7news.link/YTSubscribe | For the latest Australian news and breaking news alerts, connect with 7NEWS online: Visit » https://7news.com.au 7Plus » https://7plus.com.au/ 7NEWS Podcast » https://open.spotify.com/user/dm9fk9hzoe68ibpttheragdgi Facebook » https://www.facebook.com/7NewsAustralia TikTok » https://www.tiktok.com/@7newsaustralia Instagram » https://www.instagram.c

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