Sydney prices fall twice national average

CoreLogic property data shows Sydney's house prices dropped 0.4 per cent last week, twice the national average fall.

rooftops amid trees and street sign for Rise St

Home prices across Australia's five main capital cities last week fell 0.2 per cent. (AAP)

Capital city home prices fell by 0.2 per cent last week, but Sydney values tumbled twice as fast as the national average.

Sydney's faltering market led the losses with a 0.4 per cent fall in the seven days to January 21, according to property group CoreLogic.

Melbourne slipped 0.1 per cent, while Brisbane, Adelaide and Perth's prices were steady.

In the past 12 months, home values across those five capital cities have risen 3.6 per cent with Melbourne in front with an 8.4 per cent lift.

Sydney's prices rose 1.9 per cent over the year, Adelaide's values were up 2.6 per cent, while Brisbane's gained 2.3 per cent and Perth's was down 2.3 per cent.

Median house prices for private treaty sales, rather than auctions, were $815,000 in Sydney, $680,000 in Melbourne, $525,000 in Brisbane, $495,000 in Perth, and $440,000 in Adelaide.

Median unit prices for private treaty sales were $650,000 in Sydney, $482,500 in Melbourne, $397,500 in Brisbane, $302,000 in Adelaide and $370,000 in Perth.


Share
1 min read

Published

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world