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Nearly $100,000 in 3 months! Australian Prime Minister Albert Albanon is eager to get rid of Sydney's investment properties

澳洲总理Anthony Albanese计划本周末出售悉尼Dulwich Hill的一处投资房产。

According to the RealEstate website, PropTrack data shows that house prices in the area have fallen by almost $100,000 in the past three months.

Potential buyers are becoming more hesitant ahead of the expected rate cuts at the end of the year or early next year.

Nearly $100,000 in 3 months! Australian Prime Minister Albert Albanon is eager to get rid of Sydney's investment properties

(Image source: RealEstate)

The investment property, which Albanese purchased in 2015 for about $1.17 million, will be auctioned on Saturday with a price guide of around $1.9 million.

Seller competition will be fierce on the day, as there are more than 1,000 properties auctioned this week, a 30% increase on the same period last year.

Sydney's September saw a nine-year record for new listings, with a significant increase in total listings.

There are now about 17% more homes on the market for buyers than in the same period last year.

Nearly $100,000 in 3 months! Australian Prime Minister Albert Albanon is eager to get rid of Sydney's investment properties

(Image source: RealEstate)

Experts say the increase is enough to transform Sydney into a "buyer's market".

The results of the sale showed that more than half of the sellers who were scheduled to auction last weekend accepted pre-auction offers, which often means lower demand.

According to PropTrack, house prices in Dulwich Hill fell by an average of 4.3% in 3 months, making it one of the largest declines in Sydney.

The median home price in the area has fallen to $2.082 million from $2.175 million in early July.

Neighbouring Marrickville saw house prices drop by $54,000 over the same period.

Nearly $100,000 in 3 months! Australian Prime Minister Albert Albanon is eager to get rid of Sydney's investment properties

(Image source: RealEstate)

This does not mean that Albanese's investment properties will necessarily be difficult to sell, as competition for individual properties may vary, and some sales may outperform or underperform the overall market performance.

Agent Adrian Tsavalas also said the results of Dulwich Hill home sales varied widely.

Albanian said in the spring that he had decided to sell the property for personal reasons.