Sydney House Prices Fell About $30k This Month, About $270 Today.
This Thursday Core Logic released data showing a drop of 2.3% for Sydney house prices in the month of August. That’s $30,962 Based on Core Logics average Sydney house price of $1,346,193, from the start of the month. This is the biggest monthly fall since 1983, and equates to an an average daily fall of $998.78
Today’s fall, however, is only 0.04 index points, 0.02%, or about $270. While there are significant daily fluctuations in this value, it has been consistently negative since the reserve bank first raised interest rates in May.
You can see how I sourced this data in the video bibliography below. Let me know if you spot any errors!