13% fall in Sydney property
07 October 2015 by News Desk
House price inflation in Sydney, Australia, is set to fall from 18% this year to just 5% in the coming year.
And property prices are forecast to follow a downward trend over at least the next five years. That’s the view of valuation company Propell, who say that Sydney house prices will rise by 5% in 2016, compared with the 18.6% growth in the past year and the average 7.8% over the past five years.
Apartment prices in Sydney are forecast to rise about 5% a year, following a recent five year trend, Propell says in its latest residential report.
Darrell Todd of thinkingaustralia says: “The continuing slowdown in house price growth is great news for anyone seeking to live and work in Australia.”
