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NSW: Sydney’s property marketing has actually fallen further than official figures state

13D ago 0 Replies 19 Views
Figures released by CoreLogic have shown that Sydney has fallen by 0.8 per cent, while nationally capitals have fallen by just 0.7 per cent throughout the COVID-19 crisis.

hile the Reserve Bank noted in its latest meeting that conditions in the established housing market “remained mixed”, pointing to recent falls in dwelling values across Australia’s capital cities.
“Housing prices in some larger cities had declined in June, though were only a little below recent peaks in the case of Sydney and Melbourne,” the RBA noted.
“Housing prices in a number of smaller cities were broadly unchanged.”

“It is likely that Sydney house prices have already dropped more substantially than the public has been led to believe,” says Professor Trueck. “Vendors and real estate agents have significantly reduced the reporting of sales results for houses and apartments in many suburbs.”


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