SYDNEY’S once booming housing market has slammed into full reverse gear, recording the biggest monthly fall in prices this year.
Newly released figures showed the citywide median home value dropped 0.7 per cent over November, the third successive month of price falls for the city.
A typical Sydney home now costs $904,914 — roughly $6000, or 1.3 per cent, cheaper than it was at the start of September.
Sydney has shifted from the strongest major capital housing market to the weakest.
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