Day: January 1, 2021

NSW real estate spending hit new heights in 2020 as COVID spurred home buying frenzy

Rachelle Johnston with son Lincoln, recently sold her Darlington house and was surprised at how well the sale went. Picture Rohan Kelly

The pandemic has driven a year of record spending in the housing market, with Sydneysiders splashing out more money on houses and units in 2020 than they did in the year before the coronavirus hit.

Preliminary sales figures showed close to $95 billion changed hands in the NSW housing market in the year up to November – roughly the same amount spent on state real estate in the whole of 2019.

The increase coincided with a rise in

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