Sydney’s housing market moved through a recent peak in July 2017 after housing values surged almost 80% higher between early 2012 and the market peak.
CoreLogic has released their newest housing market update for February 2019.
Since that peak values have been falling, declining by 12.3% through to the end of January 2019.
The latest falls take Sydney dwelling values back to level last seen roughly two and half years ago.
The most substantial falls in home values are skewed towards detached homes in Sydney, with house values down 10.9% over the past twelve months compared with a 6.9% decline in apartment values.
The better performance across the unit sector is likely attributable to the lower price points which are attractive to first home buyers.
Sydney is currently offering investors an opportunity to buy established apartments in the eastern suburbs, lower north shore and inner west in a “buyer’s market” with little further downside and the prospect of the market moving forward again in late 2019.
If you’d like to know a bit more about how to find these investment gems give the Metropole Sydney team a call on 1300 METROPOLE or click here and leave your details.
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