House prices in Sydney and Melbourne fell last week, offsetting modest gains in each of Australia’s remaining three mainland state capitals.
According to CoreLogic, prices fell by 0.2% in Sydney, leaving the decline over the past four weeks at 0.7%. From a year earlier, prices in Australia’s largest and most expensive housing market increased by 4.2%, well below the high-teen levels seen earlier this year.
Joining Sydney in the falling house price club, Melbourne values also weakened, falling 0.1% during the week. However, in stark contrast to it’s northern neighbour, prices in the city have risen by 0.4% over the past month, leaving values up 9.6% from 12 months earlier.
So Melbourne price growth is slowing, just not yet to the same degree as Sydney. https://edge.alluremedia.com.au/uploads/*/2017/12/House-price-table-corelogic-Dec-11-2017.jpg
