Sydney home values slid for a second month in June, down a cumulative 1.2% since a recent peak in April.

The largest falls are occurring across the top quartile of the market where home values have dropped by 1.3% over the June quarter, while the least expensive quarter of the market has actually recorded a subtle rise up two-tenths of a percent over the same period.

You can also check out the local reports for Brisbane and Melbourne.

While home values are trending lower, rents have also declined, falling by 0.8% over the month to be 1% lower over the year.

The weakest rental conditions are confined to the unit market where rates are down 2.1% over the June quarter.

From a more positive perspective, our estimate of sales activity is up by around 40% from the April low and auction clearance rates have averaged 61% through June.

This implies an improvement in buyer demand and a better fit between buyer and seller pricing expectations.

Kate Forbes
About Kate Forbes
Kate Forbes is a National Director Property Strategy at Metropole. She has 15 years of investment experience in financial markets in two continents, is qualified in multiple disciplines and is also a chartered financial analyst (CFA).
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