Sydney House Prices Drop for the First Time in Almost Two Years
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Sydney home prices slipped for the first time in almost two years in October as mounting affordability concerns discouraged buyers, while the broader Australian market advanced at a slower pace.
Sydney fell 0.1% from the prior month — the first decline since January 2023 — though its median price still held near a record A$1.19 million ($823,780), property consultancy CoreLogic Inc. said Friday. Perth led gains with a 1.4% increase, while Melbourne posted a further decline as dwelling values in major cities rose just 0.2% in October.