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Bidding for a home is a bit like buying off Facebook Marketplace – but worse

Millie Muroi Economics Writer October 16, 2025 — 11.01pm Advertisement

Around the time I started looking to buy my first home this year, this masthead published a special investigation into Australia’s property market – and how home buyers are bidding blind, especially in Sydney.

I should have heeded the warning.

We already know the country’s supply of housing is cooked, with many first home buyers locked out of home ownership. But the process of buying a home is much more costly than just paying for a conveyancer, stamp duty, and the exorbitant cost of the property itself.

Home ownership rates have fallen to historic lows, and individuals without access to

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