Thousands of apartment owners in Sydney and Melbourne are expected to sell in the coming months, giving first-home buyers the chance to snap up a bargain.
Fresh figures released by Digital Finance Analytics showed that more than 4,000 property investors across both cities plan to flood the market with units due to the mortgage repayment holiday ending in March.
Financial regulators allowed lenders to give borrowers the option to pause mortgage repayments from March 2020 to ease the strain for those affected by the Covid-19 economic downturn.
Investors have battled to fill units while Australia s borders remain shut, with high vacancy rates forcing owners to accept rent at discounts of about 40 per cent - driving some unit prices down below $600,000.
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Coronavirus NSW: Saturday traffic worse than pre-pandemic levels
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