What happened in Sydney's property market last month?
/Property prices increased by 25.3% in Sydney in 2021 alone (CoreLogic). Taking a look the current slowdown, we've seen a decline of approximately -3.1% in Sydney over a 5 month period in 2022 (Feb-June 30). When we consider this perspective, property prices would have such a long way to fall before even getting near the property prices we saw in Sydney just last year.
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Loanscape has today released its Borrowing Capacity Index for Q4/2024. It confirms the forecast trend that borrowing capacities of Australian individuals and families are recovering from their low levels which coincided with the last of the recent increases to borrowing rates initiated by the Reserve Bank of Australia.