Sydney home values remained unchanged in April and the combined capital cities only increased by 0.1 percent adding to a string of a data that points to a slowdown in property prices.
The April results mark the weakest monthly change in dwelling values in Sydney since December 2015 with a 1.2% fall, data showed yesterday from research firm CoreLogic.
Apartment values fell 1.2% in Sydney last month. Melbourne values inched up 0.5%, while the increase across all capital cities was a mere 0.1%, the slowest pace in 15 months, the data showed.
The latest figures add to tentative signs of easing in Sydney, where prices have more than doubled since January 2009, prompting the Reserve Bank of Australia to voice concerns of financial stability risks, and the banking regulator to tighten lending norms.
But clearance rates remain strong, and Melbourne and Hobart have maintained healthy price growth.
Your Chan & Naylor broker will tell you that it is getting tougher (though not impossible) to arrange finance. Just as there is no single property market in Australia, there is a varied response from the banks to the pressure that the regulator is applying to them.
While one lender may not be prepared to do a certain loan, another may jump at an opportunity.
If you want to know which lender is best for you in this property market, please contact your Chan & Naylor broker.
This table shows the changes in dwelling values.
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