Sydney’s clearance rate has been below 70% for seven of the past eight weeks.
The most substantial decline in rental yields has been in Sydney, where dwelling values are up 77.3% compared with a 15.5% rise in weekly rents.
The Sydney housing market saw its dwelling values rise by 1.4 percent in July while the pace of capital gains remains quite strong, the trend rate of growth has clearly slowed.
The March quarter saw City dwelling values rise by five percent and since that time growth is eased to 2.2 percent over the three months ending July.
Other evidence of the housing market losing steam can be seen in auction clearance rates which have been tracking below 70 percent over the past two months, higher inventory levels and longer private treaty selling times.
Although the Sydney market place has lost some steam conditions remain strong, just not quite as strong as what they were earlier in the year.
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