PHOTO: Home buyers have traditionally had to pay a premium for Sydney houses. Source: Supplied
Sydney home prices remain overvalued despite falling for nearly two years and will become even more overvalued as the market heats up again, one of Australia’s top property analysts has warned.
SQM Research director Louis Christopher said numerous indicators suggested the market had bottomed out and rises in prices were imminent.
A 2 per cent rise in Harbour City dwelling prices was forecast for the September quarter and another 4 per cent rise in values over the December quarter.
Taking into account falls in prices recorded over the start of the year, the September and December growth would leave prices an average of about 1 per cent higher than they were in 2018.
READ MORE VIA NEWS.COM.AU