Price falls over past four months could be start of longer period of decline

PHOTO: Sydney property prices could fall even further over 2018. Picture: Troy Snook.

SYDNEY home prices have been tipped to fall by another 5 per cent this year after dropping 2.1 per cent over the last three months of 2017.

CoreLogic data released on Tuesday showed dwelling values fell 0.9 per cent over December, adding to a run of flat or negative growth that started in August last year.

The recent run of price falls could be the start of a longer period of decline, based on how the market behaved after the boom of the early 2000s, CoreLogic head of research Tim Lawless said.

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