The Australian housing market remained flat for the month of November, Sydney home values fell 0.7 percent.
Across the country, most markets edged up slightly or remained stagnant, according to Mansion Global, however the decrease in Sydney’s home market could have wider consequences.
“Softer housing market conditions across Sydney, which comprises roughly one-fifth of national dwelling stock (and approximately one-third by value), has a material influence over the headline growth trends,” said CoreLogic’s Time Lawless in a recent report.
[Mansion Global] — E.K. Hudson