CoreLogic on Monday reported values for houses in Sydney dropped by 0.1 per cent last month to now be down by 0.3 per cent over the past quarter. Sydney units took a bigger hit, down 0.4 per cent in the month to be 1.2 per cent lower over the quarter. Unit prices in Punchbowl, Meadowbank, Chipping Norton and Kogarah were more than 6 per cent cheaper than they were a year ago. In Sydney, unit rents were up 3.0% over the three months ending April, a full percentage point higher than the rise in house rents (2.0%)

Despite the downturn in the Sydney property market, now is the perfect time to upgrade. There are more properties on the market, less competition and the gap between the upgrade will continue to decrease. Furthermore, downsizers still have time to sell and unlock substantial equity they have accumulated over the last ten years.

Any effect on the property market will be minimal given only 35 per cent of households in Australia own a property with a mortgage.

Using a Buyer’s Agent: At TBAS®, we offer comprehensive end-to-end support – from identifying and analysing potential properties to dealing with agents, attending inspections, bidding at auction and negotiating a sale on your behalf. We take the time to understand your timeline, budget and exactly what you’re looking for, then create a tailored strategy to get you into your dream home, fast.

Disclaimer: Not all Properties were bought or sold by TBAS® Buyers Agents. The Auction Results Sydney are compiled for research purposes to assist our valued clients in making educated decisions when purchasing proper