Sydney house prices slide 22 percent in middle suburbs like Marsfield
Sydney's property downturn has spread to middle suburbs, with Marsfield falling 22 percent.
Marsfield in the Ryde-Hunters Hill area experienced the greatest house price fall at 22 percent, followed by prestige beachside suburb Bronte at 15.2 percent. Across Sydney, the median house price fell 5.8 percent to $1,661,167.
For apartments, Darling Point fell hardest at 16.8 percent, with Redfern down 16.2 percent. At the other end, Prospect and Richmond in outer western Sydney, and Haberfield in the inner west, all rose more than 23 percent.
Wahroonga units rose 25.1 percent. Economists say the scattered falls show the downturn has become entrenched as the impact of rate rises, higher inflation and Federal budget changes announced in May played out, though the upper end is still bearing the brunt.
- 22 per cent
- Marsfield fall
- $1,661,167
- Sydney median price
- 5.8 per cent
- Sydney median fall
- 25.1 per cent
- Wahroonga units rise
Why it mattersBroader price falls across all suburbs signal a more entrenched downturn, affecting homebuyers and investors right across Sydney's market.
