Sydney’s property market appears to be hitting its peak this October, with dwelling values rising by only 0.3% in the last three months.
The high concentration of investors in Sydney relative to other capital cities means that tighter credit policies and higher mortgage rates for investors are dampening the Sydney marketplace more than others.
Across the Sydney housing market, it was the detached sector that pulled the monthly and quarterly growth figures down.
While unit values are also appreciating at a slower rate, detached housing values actually fell by 0.3% over the month and they were 0.2% lower over the quarter, while unit values actually recorded a subtle rise.
The Sydney housing market doesn’t share the same sort of concerns around unit oversupply that’s affected the Brisbane unit sector and to a lesser extent Melbourne ‘s.
Potentially the affordability challenges facing Sydney buyers within the detached housing sector are also pushing some demand towards the median to high-density sector where, based on median values, houses are almost $300,000 more expensive than units.
YOU MAY ALSO BE INTERESTED IN READING:
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.