Money Sydney home prices are still sliding

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Home prices across Australia's state capitals were flat last week.

According to CoreLogic, a small 0.1% increase in Brisbane, along with flat results in Melbourne and Adelaide, were able to offset declines of 0.1% in both Sydney and Perth.

Despite the flat weekly result, Melbourne prices have fallen 0.3% over the past month, the most of any state capital. They also fell in Sydney and Brisbane over the same period, declining 0.2% and 0.1% respectively.

In contrast, prices in Adelaide and Perth strengthened over the month, rising by 0.1% and 0.3% respectively.

Combined, prices nationally fell 0.2% over the past month in average weighted terms.

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Brisbane house prices have surged by nearly 300 per cent in real terms over the past 30 years, a new report into housing affordability says. The 299 per cent increase was primarily driven by the cost of land, rather than the quality of housing.

Local demand is still there, but they are price -conscious." In Sydney , weakening demand for homes has been reflected in nine weeks of sliding auction clearance rates, the longest streak of declines.

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Largely reflecting ongoing price weakness in Sydney, along with recent declines in Melbourne, prices so far this year have fallen 1.1% in weighted terms.

The median Sydney price has slid 2%, more than triple the 0.6% decline seen in Melbourne.

Sydney's apartment building boom is hitting new highs even as prices start to fall

Unit prices in Sydney are falling. Total units under construction in NSW hit the highest level on record late last year. There are 16,786 units approved but yet to begin construction across the state, the second highest number on record. Home prices are falling in Sydney, including for units.According to data from CoreLogic, apartment prices in Australia's largest and most expensive housing market fell by 0.9% in the first three months of the year, seeing the increase on a year earlier slow to 1.9%.If the chart below is anything to go by, there could well be further declines to come.

Sydney home prices continued to fall in early April, continuing the trend seen in recent months. According to CoreLogic, prices in Australia’s largest and most expensive housing market fell by 0.1% in the first full week of April which, along with flat performances from Melbourne and Brisbane

Sydney home prices dropped 0.3 per cent in March, leaving values down 2.1 per cent on the year, according to property consultant CoreLogic. Values had been surging at more than 20 per cent a year at the peak of the boom.

In the smaller mainland state capitals, prices have fallen 0.3% and 0.2% respectively in Adelaide and Perth. Brisbane prices have held up better, remaining steady so far in 2018.

Again, largely reflecting softness in Sydney price, prices across the mainland state capitals are now just 0.1% higher than a year ago in average weighted terms.

Sydney lift Plate after win over Victory

Sydney FC have capped their dominant A-League regular season with a 1-0 win over Melbourne Victory at Allianz Stadium.Sydney lifted the annual beyondblue Cup, thanks to striker Bobo's 27th goal of the season, as well as the Premier's Plate for the second-straight year at Allianz Stadium on Friday night.

Australian home prices fell again in February. Annual price growth in Sydney turns negative for the first time since 2012. Elsewhere, prices slid by 0.9% in Darwin, 0.3% in Canberra, 0.2% in Perth and 0.1% in Brisbane.

Sydney 's house prices continue a downward slide falling another 0.7 per cent in November, the latest Corelogic data shows. Cunninghams' principal John Cunningham was not perturbed and said he expected days on market for homes to double. Even then, it would still be about 40 days, down from

By individual capital, they've fallen 2.9% in Sydney, outpacing a drop of 2.3% in Perth over the same period.

Annual price growth in Melbourne continues to slow, falling to 4.7% last week, while price in Adelaide and Brisbane rose 1.4% and 1.1% respectively over the past year.

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Along with tighter lending restrictions on local and foreign investors, weak growth in household incomes and ongoing affordability constraints in many of Australia's most expensive markets, an increase in the number of properties currently up for sale is another factor likely contributing to the recent price slowdown, especially in Sydney.

According to the group, total listings in Sydney stand at 26,274, up 22.1% on a year earlier. While not to the same degree, Melbourne listings have also ticked higher, lifting 2.6% to 29,982.

In contrast, total listings in all other capitals except Canberra have fallen over the year, contributing to the recent price divergence in Sydney and Melbourne compared to other parts of the country.

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