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By Tim Lawless

Sydney housing market update [video] | May 2024

Australian home values moved through a 15th straight month of growth in April with CoreLogic's national home value index rising by 0.1%, on par with the pace of gains recorded in February and March.

Sydney home values have continued along a modest upward trajectory, rising by 0.4% in April to be 1.3% higher over the first 4 months of the year.

Sydney Housing Market Update | May 2024

Although the change in home values remains in positive territory, growth conditions have slowed sharply relative to the first half of last year when values were consistently rising more than 1% month on month.

Sydney house prices graph

Sydney Dwelling Prices April 2024

Lower quartile house values are now recording the fastest rate of growth, up 2.6% in the year to date, followed by a 1.9% rise in lower quartile unit values.

Listing numbers remain in relatively short supply tracking 10.6% below the previous 5-year average at the end of April.

Sydney housing market update April 2024

Regional markets have shown slightly stronger quarterly growth over the past five months than their capital city counterparts following a ten-month period where the combined capitals index was outperforming.

Looking at value movements over the past 3 months, the strongest regional markets were aligned with the strongest capital cities.

Home sales look to have moved through a cyclical peak in November last year.

Nationally, rents were up 0.8% in April, a slight slowdown in the rate of growth relative to February and March when the national rental index rose by 0.8% and 1% respectively.

You may also want to read:

National Housing Market Update [Video] 

Perth Housing Market Update [Video]

Adelaide Housing Market Update [Video]

Brisbane Housing Market Update [Video]

Melbourne Housing Market Update [Video]

About Tim Lawless Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit
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