Sydney property market slowdown
18 June 2015 by News Desk
Property prices in Sydney look set to fall over the next 12 months, according to industry observers.
Popular areas of Sydney have seen house prices increase by up to 15% this year but the rising market in 2015 is flattening and will probably slow down over coming months.
Darrell Todd, CEO of thinkingaustralia says: “Prices have risen too high and the market is starting to slow down. By Christmas, instead of rising in popular areas by 15%, I think it will be more like 7%. Next year, I think price growth will settle at a rate of four or five per cent. Prices are high right now so my suggestion is wait six to 12 months and you will be able to buy better properties in better areas than you can today.”
