Confidence in real estate market sours among industry workers

AGENTS and other real estate workers can usually be relied on for an optimistic view of the property market — but even they are starting to entertain doubts.

Expectations of growth in property prices have a hit a five-year low among NSW real estate professionals following a dramatic slowdown in Sydney’s housing market over the past year.

A survey of agents, brokers, developers and other players in the real estate sector by ANZ and the Property Council of Australia showed confidence in the industry has plummeted since the Harbour City’s housing boom ended last year. 

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