Last month, Sydney recorded its largest fall in house prices since 1989, a 1.6 per cent drop.
Prices have been falling since they peaked in April and many economists expect that by the time the housing market hits its lowest point, prices will have fallen by at least 15 per cent. If that happens, it would make it the largest downturn on record in Australia.
Ingrid Fuary-WagnerExplainer editorIngrid Fuary-Wagner is the AFR's explainer editor, based in Sydney. She previously wrote about property and before that was news editor at Domain. Connect with Ingrid on Twitter. Email Ingrid at ingrid.fuary-wagner@afr.com
Les HewittSenior interactive graphics designerLes Hewitt is senior interactive graphics designer for The Australian Financial Review. Email Les at lhewitt@nine.com.au
