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Sydney Home Prices Have Biggest Quarterly Drop in Four Years

  • December prices fall for second consecutive month in Sydney
  • CoreLogic sees further declines in home prices in 2016
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Sydney home prices fell for the second-consecutive month and recorded the worst quarter in four years as a regulatory crackdown pushed up mortgage rates and dented affordability amid record prices.

Home values in Australia’s largest city dropped 1.2 percent in December from a month earlier following a 1.4 percent decline in the previous month, data from property researcher CoreLogic Inc. showed Monday. This is the first time since May 2013 that Sydney dwelling values have dropped for two straight months.