Decline comes as RBA documents indicate values may sink as much as 20% nationally from their February peak by end of 2024
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Sydney’s property prices have fallen by more than 10% since their mid-February peak, shedding almost $450 a day in value on an average home, and leading other major markets lower, CoreLogic said.
The 10.1% decline for home values in the harbour city so far comes as documents from the Reserve Bank of Australia indicate average property values may sink as much as 20% nationally from their recent highs by the end of 2024. That decline would be the steepest since the 1980s if realised.
Continue reading…Decline comes as RBA documents indicate values may sink as much as 20% nationally from their February peak by end of 2024Follow the latest updates with our live blogGet our morning and afternoon news emails, free app or daily news podcastSydney’s property prices have fallen by more than 10% since their mid-February peak, shedding almost $450 a day in value on an average home, and leading other major markets lower, CoreLogic said.The 10.1% decline for home values in the harbour city so far comes as documents from the Reserve Bank of Australia indicate average property values may sink as much as 20% nationally from their recent highs by the end of 2024. That decline would be the steepest since the 1980s if realised. Continue reading…