In Sydney, housing values ticked slightly higher for the second consecutive month, providing further confirmation that the market has commenced what is likely to be a gradual recovery after values fell almost 15% from their July 2017 peak.
CoreLogic has released their newest housing market update for August 2019.
The unit sector is showing a slightly stronger performance relative to houses, with values declining less during the down phase and slightly leading the charge as the market stabilises.
The better performance of units amidst a surge of new apartment supply may seem surprising, however, most of the new unit stock was sold several years ago when conditions were quite different.
There is a strong chance we could see some dampening of price growth across the high-rise unit sector as resales of new stock start to pick up.
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