AFR today.
The canary is starting to sing louder, or that a train I hear.
A small drop, but it could indicate the tide is turning. I'd expect a significant increase in investment properties being dumped as punters try and catch near the top of the market.
Sydney apartments post biggest drop in value in six years in September quarter: ABS
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Apartment values in Sydney fell at their fastest rate in almost six years in September. Jessica Hromas
by Michael Bleby
Sydney apartments, townhouses and semi-detached homes fell 1.4 per cent in value in the September quarter, their biggest loss in almost six years, as investor credit curbs tightened and larger volumes of apartments settled.
The quarterly fall in the price index of so-called attached dwellings, followed a 2.6 per cent gain in June and was the largest quarterly decline since December 2011, when values fell 2.3 per cent, Australian Bureau of Statistics figures on Tuesday showed.
House prices also turned negative in the NSW capital in the three month period, with values falling 1.3 per cent from June, confirming a slowdown in a market that has thrown the brakes on price growth compared with its buoyant start to the year. Separate figures earlier this month from CoreLogic showed Sydney dwelling values fell 0.7 per cent in November.
"They have completely turned 180 [degrees]," said Dan Tussie, a real estate agent with Kirribilli-based Deborah Richardson Real Estate.
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