The rate of decline in Sydney home values eased in August, with values down half a percent over the month compared with last month’s drop of 0.9% and a 0.8% fall in June.
Clearly home values are still falling, just not as quickly as they were previously.
You can also check out the local reports for Brisbane and Melbourne.
Auction markets are also pointing towards stability in the market, with the number of auctions held consistently rising since mid-May and clearance rates holding firm around the decade average of 63% through August.
The most expensive quarter of Sydney’s housing market has continued to show weaker returns do relative to lower-value homes, with the top quartile of the market down 3% in value since the end of March while lower quartile values are only down by 0.2%.
