Sydney Housing Market Update | July 2018

As one financial year closes and another kicks off, I seem to be getting asked the same questions over and over. Is the market crashing and what are we going to see happen over the next 6-12 months? Well a great video came across my desk this week, distributed by Core Logic Australia, which had a few key take homes for me that sums up those questions nicely and that I wanted to share with you.

  • Sydney dwelling values are down 4.5% in the last financial year
  • Sydney’s most expensive quarter of the market has seen values fall 7.4%
  • Advertised properties are 20% higher than this same time last year. More listings on the market means more choice and less urgency for buyers. This lack of urgency is also evident in auction clearance rates which have tracked considerably lower since mid last year.
  • Sydney median selling time has increased by 20 days
  • Last but not least, the thing I found most interesting is that despite the recent year’s fall in value, Sydney dwelling values remain 54% higher than 5 years ago!

So again, I say this all the time, it comes back to the big picture. If you purchase a property with a long-term view in mind, you are always going to see growth – particularly in Sydney.

View full video below: