Theresa Worrell: Sydney Housing Market Update [video]

In Sydney, dwelling values have been falling since July last year.

Core Logic has released their newest housing market update for June 2018.

Market conditions have favoured sellers for much of the past six years however, increased stock for for sale and slower selling times means that buyers are now back in the drivers seat.

Advertised stock levels have increased by 20% compared with a year ago and homes are selling in 43 days on average compared with 31 days at the same time last year.

Market conditions have been weaker across the more expensive end of the market, while dwellings at the most affordable end of the valuation spectrum are still seeing some subtle growth, likely supported by a surge in first home buyer activity which is helping to prop up prices across the most affordable end of the market.