The housing correction is on track to be the biggest on record, wiping years of growth from prices. But it may not help first home buyers if rates stay high.
More than $200,000 could be stripped from Sydney’s median house price by the time Australia’s biggest property slump on record is over, some time next year, as successive rate rises combine with tax changes to choke demand in the housing market.
The historic correction could wipe several years of growth from all capital city markets by the time it is done, sending Sydney prices back to the level they were in early 2023.
Gift articles to anyone you choose each month when you subscribe.
Compare how 6 other independent news outlets reported on this story.
The harbour city’s clearance rate remains sluggish, but one prestige area has bucked the trend as buyers eye bargains in the falling property market.
Sydney is enduring its deepest housing correction since at least 2008 but there are 10 surprising suburbs where prices are going up.
The block sits alongside multimillion-dollar homes and future buyers will need to get creative.
Deicorp's Fouad Deiri joins Bays West, Billbergia and Contour3D on the Sydney Long Lunch panel on November 26.
While the human remains are yet to be formally identified, police believe they belong to an adult male.
The Foo Fighters frontman had a special bond with Todd Russell and Brant Webb – and on the day of Russell’s death, he played the ballad he wrote for the pair.
