Real estate price growth in Sydney has returned to Earth. The Australian Financial Review reports on the latest analysis from property-portal Domain, which finds a somewhat more subdued situation in Sydney. The NSW capital chalked up a new record median house price of $1,032,433 in September, up 3.2 per cent from June but well down on the 7.7 per cent quarterly increase in June. Sydney apartments showed an even greater deceleration, slowing to quarterly growth of just 1.5 per cent from 7.4 per cent in June.
Domain heralds the findings as the end of Sydney’s house-price boom, and the sinking price growth does not appear to be limited to New South Wales. The same report found that house prices in Melbourne rose just 2.8% over the quarter, down from 6% in June. [Australian Financial Review]View full listing (pictured top)