Tweet of the day: Cameron Kusher on Sydney's possible bust

Tweet of the day: Cameron Kusher on Sydney's possible bust
Tweet of the day: Cameron Kusher on Sydney's possible bust

CoreLogic RP Data's senior research analyst Cameron Kusher has weighed into the Sydney property market decline debate through his twitter @cmkusher by asking, why exactly is the fact that Sydney house prices are allegedly not booming any more a bad thing?

Sydney house prices have recorded a sharp decline over the last quarter with the fall marking the end of the Sydney property boom, according to figures released recently by Domain.com.au. 

Despite the property boom ending, Sydney and Melbourne are set to reclaim some of the losses record over the final quarter of 2015, according to CoreLogic RP Data's head of research Tim Lawless.

In preparation for the announcement on Monday, Lawless said Sydney will bounce half a percent higher over the first 27 days of January while dwelling values in Melbourne are likely to increase by around 2 percent by the months end.

He said that the month to date performance will help to offset the 2.3% fall in Sydney values recorded over the December quarter, while the higher growth rate in Melbourne should bring Australia’s second largest city back into positive growth territory on a rolling quarterly basis.

Although there will be higher index readings across the largest cities, Tim suggests it's likely that housing market conditions will track lower than what we saw over 2015.

Property Observer will keep you up to date with the home value index when it is released on Monday.

 

Tags: 
Sydney Property market

Comments

Be the first one to comment on this article
What would you like to say about this project?