In Sydney, the housing downturn marked its one year anniversary, with the market peaking peaking in July last year.
Core Logic has released their newest housing market update for August 2018.
Since that time Sydney house values have reduced by 7.0% while unit values have been somewhat more resilient, falling by 2.2% since peaking.
There has been an ongoing divergence in the performance across different price points, with the most expensive quarter of Sydney`s market down by 8% over the past twelve months while the most affordable quarter of the market has seen values fall by only 1.8%.
A rise in the number of first home buyers and more focus on debt to income ratios from lenders is likely skewing market activity towards the middle and lower end of the market.
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