Sydney on the up as national property price falls ease
While it is far too early to call an end to the property market's downturn, a resurgence in Sydney's real estate values and slower than usual price falls elsewhere have buoyed the market.
Sydney’s upper quartile properties recorded a 0.7 per cent rise in values over the course of February. (Image source: Shutterstock.com)
Sydney, the city that contributed much to the recent downturn in property prices nationally, is now leading what may amount to a recovery or simply be an aberration.
National property prices, according to CoreLogic’s Home Value Index (HVI), have recorded the smallest monthly fall since May 2022 (-0.13 per cent), when rate hikes commenced.
The national decline of 0.14 per cent was moderated by Sydney’s relatively surprising monthly rebound of 0…
