PHOTO: BRENDON THORNE/GETTY IMAGES The most expensive houses in Sydney fell by 16.7 per cent since their peak compared to 10.6 per cent falls in the bottom segment of the market.
With Sydney and Melbourne property prices peaking in 2017 before plummeting, it was the big end of town that was hit hardest.
Coming off much grander bases, expensive properties had far further to fall and more to lose than their more modest peers.
According to property research house CoreLogic, that saw the most expensive houses in Sydney (those in the top two-tenths) fall sharply.
The prices of expensive Sydney houses fell by more than any other group.
CoreLogic’s data shows the prices of the most expensive houses fell by 16.7 per cent since their peak compared to 10.6 per cent falls in the bottom segment of the market. The most pain, however, was felt by the second most expensive tier of houses which saw 17.8 per cent slashed from values.
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