Sydney house hunters take drastic measures to secure a home
Article by Mozo
The lack of housing supply in popular parts of Australia is causing some house hunters to take drastic measures.
According to the Sunday Telegraph, some mortgage customers have been camping outside land-release offices for more than a week to ensure they are first in line to purchase an affordable dwelling.
A recent survey by Mercer showed that Sydney is one of the most expensive cities to live in the world and many people simply cannot cope with the high property prices.
So, when cheap land does become available, inevitably demand is extremely high.
Landcom spokesman Robert Sullivan told the news provider that nearly half of the blocks priced between $245,000 and $315,000 that were recently put on sale were snapped up within three hours.
"People chose to camp out at Edmondson Park because they were prepared to sit there for a week to make sure they got the lot they wanted," he was quoted as saying.
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