In Sydney, dwelling values have been falling since July last year.
Core Logic has released their newest housing market update for June 2018.
Market conditions have favoured sellers for much of the past six years however, increased stock for for sale and slower selling times means that buyers are now back in the drivers seat.
Advertised stock levels have increased by 20% compared with a year ago and homes are selling in 43 days on average compared with 31 days at the same time last year.
Market conditions have been weaker across the more expensive end of the market, while dwellings at the most affordable end of the valuation spectrum are still seeing some subtle growth, likely supported by a surge in first home buyer activity which is helping to prop up prices across the most affordable end of the market.
YOU MAY ALSO BE INTERESTED IN WATCHING:
SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
NEED HELP LISTENING TO MICHAEL YARDNEY'S PODCAST FROM YOUR PHONE OR TABLET?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
PREFER TO SUBSCRIBE VIA EMAIL?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.