In Sydney we saw dwelling values fall by 4.1% over the past three month, with the rate of decline easing to 1% in February.
CoreLogic has released their newest housing market update for March 2019.
The annual pace of falls is now measured in double digits, with dwelling values down 10.4% over the year.
Values are generally falling across the entire metro region, however detached housing has seen larger falls relative to units and the most expensive quarter of the market is recording a larger downturn in values relative to the lower value quarter of the market.
The difference between property types and valuation cohorts can probably be explained by affordability factors as well as a surge in first home buyer activity which is supporting demand across the more affordable end of the market.
Sydney is currently offering investors an opportunity to buy established apartments in the eastern suburbs, lower north shore and inner west in a “buyer’s market” with little further downside and the prospect of the market moving forward again in late 2019.
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