Real Estate
Sydney’s Property Prices Climb for First Time in 13 Months
- A 0.3% uptick in Sydney slowed the pace of declines elsewhere
- CoreLogic says it’s still too early to call a trough in market
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Sydney property prices, the bellwether of the Australia market, advanced for the first time in 13 months in February in a positive sign for home values that have been under pressure from rising interest rates.
Prices in Sydney climbed 0.3% last month, their first increase since January 2022, while Melbourne and Brisbane slipped 0.4% apiece, CoreLogic Inc. data showed Wednesday. That sent the combined capitals index down 0.1%.