▲ 3 r/AusFinance
Sydney properties sitting 200+ days are bleeding money and most buyers don't realise how much leverage that creates
11 Eastern Road, Rooty Hill — DA approved for 5 townhouses, been listed 685 days. At 80% LTV and 6.5% variable, the vendor has paid roughly $150,000 in interest since listing. Not counting council rates, insurance, or maintenance.
Another one in Penrith — R3 zoned, 419 days, bought in 2021. Around $103K in interest gone.
At what point does that holding cost pressure become the buyer's negotiating leverage? Has anyone here actually used this angle when making an offer?
u/Patient-Gift6212 — 14 hours ago