Sydney’s once skyrocketing housing market has come back down to earth following another month of lacklustre growth in home prices, with analysts revealing an alarming new trend. SydneyRealEstate
Sydney home prices increased at a slower pace last month as the once booming market continued to cool.
Experts said the slowdown was the result of a recent bump in the supply of available housing, which took pressure off buyers to bid up prices.A recent open for inspection on the northern beaches. Picture: Tim Hunter.For some context, Melbourne’s median house price surpassed $1m for the first time in January, while the Brisbane median is about half Sydney’s.
But he also cautioned that little housing stock is traded in January and more sales results would need to come in to confirm what direction the market was taking this year.“As the volume of home sales moves out of seasonal lows, we should get a firmer reading on how 2022 is shaping up,” he said.
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