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Sydney’s housing prices to bottom out, figures suggest

Property Markets / Outlook

Australia / Sydney

Apr 15 2018

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New figures suggest Sydney housing prices could be close to bottoming out, having dropped 3.9 per cent since mid-2017, and only 0.3 per cent over the past month.

CoreLogic research shows Sydney values are now only 2.1 per cent lower than this time last year, with Melbourne prices also falling just0.2 per cent in the month.

However most capital cities recorded gains, with Brisbane up 0.1 per cent, Perth up 0.3 per cent and Hobart up 1.7 per cent.

Recent months have seen the implementation of restrictions on lending, although major banks starting to lend more to investors again.

CoreLogic head of research Tim Lawless said without additional credit tightening,  Sydney and Melbourne marketplaces would most likely find a floor much earlier than ­expected.

“Sydney particularly is getting very close to bottoming out and I think from here we’ll probably see either a very flat market or some subtle levels of growth,” he told The Australian.

New figures suggest Sydney housing prices could be close to bottoming out, having dropped 3.9 per cent since mid-2017, and only 0.3 per cent over the past month.

CoreLogic research shows Sydney values are now only 2.1 per cent lower than this time last year, with Melbourne prices also falling just0.2 per cent in the month.

However most capital cities recorded gains, with Brisbane up 0.1 per cent, Perth up 0.3 per cent and Hobart up 1.7 per cent.

Recent months have seen the implementation of restrictions on lending, although major banks starting to lend more to investors again.

CoreLogic head of research Tim Lawless said without additional credit tightening,  Sydney and Melbourne marketplaces would most likely find a floor much earlier than ­expected.

“Sydney particularly is getting very close to bottoming out and I think from here we’ll probably see either a very flat market or some subtle levels of growth,” he told The Australian.

If lending standards are tightened further, however, prices may see a further drop. 

If lending standards are tightened further, however, prices may see a further drop. 

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