Sydney region where prices fell 12 per cent in a year
Property prices have fallen by up to 12 per cent over the past year in some Sydney regions, while continuing to increase in cheaper western suburbs.
“Sydney had been leading falls in prices across the country, but recent falls were less significant,” said PropTrack economist Paul Ryan. Prices were down nearly 3.7 per cent compared to this time last year, but there was considerable variance in price movements across city regions.Close to 10 per cent was shaved off northern beaches home values over the year, but prices continued to grow by up to 4 per cent in cheaper regions such as the southwest and outer west.
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