0.1% fall in Sydney home values was the first monthly decline since January of 2023, following a short but sharp 12.4% drop in values between February 2022 and January of 2023.
Weaker conditions have been led by the most expensive areas of the market, with a 0.6% fall in upper quartile house values over the month, and a 1.1% drop over the past three months.
Sydney Housing Market Update | November 2024
In comparison, Sydney's lower quartile house and unit values both recorded a 0.5% rise in values in October.
Sydney house prices graph
Source: CoreLogic
The rise in advertised stock levels has been a key factor in Sydney's slowdown, with listings now 12% above average for this time of the year.
You may also want to read: National Housing Market Update
- Also read:Adelaide housing market update [video] | November 2024
- Also read:Sydney’s Rental Market Trends and Forecasts
- Also read:Melbourne housing market update [video] | November 2024
- Also read:How much of your income should you spend on a mortgage?
- Also read:Sydney housing market update [video] | November 2024
