Patience John Symond advises Sydney first home buyers: the market is coming off the boil

John Symond, the founder and chairman of Aussie Home Loans, believes the Sydney residential market was peaking.

"She's topped out," he suggests.

"I really can see, I am feeling it already..that the market is just starting to come off the boil," he told Ross Greenwood on the 2GB Money News program tonight.

"By Christmas I reckon instead of going up in the hot areas by 15%, I reckon it will be like half of that."

"Into next year, I think they'll (prices growth) will settle right down to four or five percent. It will be a more healthy market, than the fears that are around at the moment.

"Ross I have been telling friends of mine… who ask me that question all the time … and I reckon that the prices are so high at the moment, my suggestion is wait six to 12 months the chances are, all going well, there will be opportunities out there that you will probably buy better in some areas than what you can buy today."