Sydney house prices fall for the first year since 2012

PHOTO: House prices in Sydney and Melbourne have continued to slow.

Cracks are showing in the Sydney property market, with prices now falling for the first time over a 12-month period since the boom began.

The harbour city recorded a 0.5 per cent drop in housing prices in the year to February, CoreLogic data released on Thursday shows. This figure includes apartments and houses.

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