Sydney home values have continued to rise, however, the 0.5% increase through the September quarter was the lowest growth results since the three months ending February of 2023, when values were down by 0.3%.

With one month of spring now behind us, Sydney listings are rising, tracking 7% above levels at the same time last year and 14% above the previous five year average.

Higher stock levels are good news for buyers and can be seen in clearance rates slipping to below average levels and homes are taking longer to sell by private treaty, with a median of 32 days on market compared with 28 days a year ago.

Sydney house prices graph

Source: CoreLogic

A further rise in real estate listings is likely, which will provide leverage for buyers. Markets with higher stock levels tend to be weaker in terms of values. This means that buyers may have more negotiating power and options to choose from. As we enter the spring selling season, it will be interesting to observe the trends and developments in the market.

You may also want to read: National Housing Market Update

About Tim Lawless
Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au