Sydney House Prices Drop Most in 30 Years After 2017 Peak
- Values in most populous city could fall another 10%: Blackrock
- But house prices are still 60% higher than they were in 2012
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Sydney’s property market slump has reached a new milestone, with values falling further than the late 1980s when Australia was on the cusp of entering its last recession.
Average Sydney home values have fallen 10.1 percent since their 2017 peak, CoreLogic Inc.’s head of research Tim Lawless said Tuesday, citing data as of Dec. 7. That surpasses the top-to-bottom decline of 9.6 percent recorded between 1989 and 1991.