PHOTO: Apartment prices have fallen less than houses.
The latest data shows the fizz has really gone out of Sydney’s housing market but braver home buyers might draw the conclusion that now is perhaps a much better time to buy than a year ago.
Buying now would be a gutsy call but home buyers can take heart from some important economic data on inflation which suggests mortgage repayments are unlikely to rise in the next year or so.
Median Sydney house prices fell 4.5 per cent last financial year, the biggest 12-month fall since 2008, according to figures released by Domain on Wednesday.
The pain seems to have been worse in higher-income areas including the east, the upper north shore and the inner west where prices fell as much as 12 per cent while lower income areas like the south-west and the central coast have held their ground.
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