Sydney housing market update [video]

With values flattening in September and falling in October and November by 0.2%, it looks like Sydney’s housing cycle has turned. The two consecutive months of decline follow a 16% rise in values since the cycle commenced in February last year.

City houses are driving the weaker outcome with values down 0.8% over the past three months compared with a 0.4% rise in unit values over the same period.

Sydney house prices graph

Source: CoreLogic

Similarly, the upper quartile of the market is leading the weaker conditions, with values falling 1.6% over the past three months while lower quartile values are showing a subtle rise, up 0.9%.

You may also want to read: National Housing Market Update

About Tim Lawless
Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au