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.
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