Tag archive: property

Sydney Property Prices Continue Dropping

Homes for sale Sydney today are $50,000 cheaper on average than last year, according to new figures released on Monday.

The latest CoreLogic home value index revealed that the median sale price of Sydney units, houses and townhouses overall has fallen 5.6 per cent in the past 12 months, dropping from over $900,000 in mid-2017 to $855,287 now. Median price fell 7.1 per cent for the detached house category, and merely 2.2 per cent for units.

The fall was driven by weak winter sales activity, with the median price dropping by 1.2 per cent over June, July and August combined.

Experts predict the downward trend in property prices would continue into 2019. Buyers of detached houses would be even better placed due to lower demand and more significant drops in prices.