Sydney house prices falling in 'premium locations', but rising in historically affordable outer suburbs
Sydney's property market is experiencing a downturn in premium locations while prices continue to rise in traditionally affordable outer suburbs. Experts suggest that while the decline is sharp in high-end areas, it has not yet reached the more budget-friendly regions of Western Sydney.
Why it matters
This trend highlights shifting economic pressures in the Australian housing market, potentially complicating affordability for first-time buyers.
Sydney's property prices have fallen in "premium locations", but risen in traditionally affordable areas. ( ABC News: John Gunn )
The downturn of Sydney's house and unit prices are "less likely" to impact first home buyers, a residential economist says.
Data released by Domain shows the city recorded the lowest drop in the country, but mainly in "premium locations".
A real estate agent in a traditionally affordable area of Sydney's west says buyer confidence is at "an all-time low".
Link copied Share Share article First home buyers are "less likely to be affected" by Sydney's housing price and unit downturn as historically affordable areas have increased, a property expert says.
Figures released by real estate company Domain showed a turning point for the city's house prices , which saw the largest drop in the country of 3.3 per cent on the last quarter.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in