PHOTO: Sydney’s inner suburbs have been hardest hit, with homes in the CBD, falling in value by an average of 13.6 percent in the last 12 months. Picture: Domain
The bane of first home buyers and the boon of investors for more than two decades, Sydney’s housing bubble looks set to finally – if not quite burst – at least deflate somewhat over the next two years.
Sydney’s house prices are predicted to fall on average by as much as 10 percent by the end of 2019 as banks clamp down on who they lend money to, according to new figures released by ANZ Research.
House prices across Greater Sydney have already fallen by 3.4 percent in the past 12 months – more than any other capital city apart from Darwin (where property values are down 7.7 percent).
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