Theresa Worrell: Sydney Housing Market Update [video]

Sydney continued to lead the pace of growth in housing values across the major capitals, recording a 2.4% rise in April.

Recall Sydney housing values were up 3.7% in March, so the April reading marks a slowdown in the pace of growth, albeit from the fastest rate of growth since 1988.

Sydney’s rapid rate of appreciation is skewed towards houses over units.

Although values are rising across both sectors of the market, house values have surged by 13.4% over the most recent six month period compared with a 3.7% lift in unit values.

We are also seeing stronger growth conditions across Sydney’s premium valued properties.

For houses, the most expensive quarter of the market recorded a 12.2% lift in values over the past three months compared with a 7.9% rise across the lower end of the market.

The trend is similar, but less substantial for units, with the upper quartile recording a 6.0% lift in values over the past three months while lower quartile unit values were only 2.9% higher.

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