According to The Australian Financial Review, real estate agents in weaker suburbs in Sydney are telling potential buyers at auctions the housing downturn is "only temporary", urging them to buy while the market is subdued.
A potential buyer told The Australian Financial Review he went to Blacktown and South Windsor in Sydney's west on Saturday to shop for housing deals for an investment hoping to score discounts. He found himself alone at two of the properties he inspected.
"The agent at a five-bedroom property at Andre Place, in Blacktown, said they had set records previously in the area and that any bad news was all caused by media and we had to 'fight them'," he said.
"He also said the housing market will be negative for two years and then it will go up again."
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