Sydney property prices slowdown
18 December 2015 by News Desk
Property prices in Sydney, Australia, increased by 16% in 2015 but growth is set to slow to just 4% in 2016.
Melbourne, meanwhile, is also expected to see a slow down in house price inflation, with prices rising by 5% in the coming 12 months.
Property prices in Sydney are set to grow in line with Hobart and Adelaide which currently sit around 1% higher than Brisbane, Perth and Darwin, according to the latest State of the Market Report from Domain.
The slowdown in Sydney will be most apparent in the western suburbs, which are expected to see three per cent growth over the next 12 months. But house price inflation is set to continue in Sydney’s higher priced inner-city suburbs.
Property prices in central Sydney and its’ east and lower north shore are forecast to see 5% growth in 2016.
Darrell Todd of thinkingaustralia says: “Falling property prices in Sydney can only be good news for anyone seeking to live and work in the city. Migrants have waited all year for such news.”
