Sydney housing values fell 0.1 per cent last month as sustained high borrowing costs, affordability pressures and above-average listings numbers pulled the floor out from under prices for the first time in 21 months.
CoreLogic figures published on Thursday revealed the slowdown under way in the NSW capital for several months had led to the first decline in housing values since January last year, several months after Melbourne – where values shed a further 0.2 per cent in October – led the way into decline.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
