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
