In 2018, the Australian housing market is not very good, which is undeniable.
Sydney`s overall house prices fell 3.2 percent and unit prices fell 3.3 percent in the third and fourth quarters of 2018, according to Domain. Melbourne`s house prices fell 2.1% and unit prices fell 1.8%.
Prices in Sydney have fallen 11.4% since their peak in mid-2017. More than half of Sydney`s (suburbs) house prices are now below "millions".
Median home prices in regions such as Roselands,Sutherland and Kellyville Ridge fell out of the "million" level in 2018. On the map, most of these areas are more than 20 kilometers from the heart of Sydney, and are mostly located in the south and west of Sydney.
As a result, for many buyers, they have more options and are able to buy more spacious properties than expected.
(areas where median prices have fallen below the "million" level; areas where the volume of property transactions are less than 50 are not included in the above picture.)
Although Sydney`s median home price is still above A $1.06 million and still leads Australia`s, the above chart shows that the median prices in many areas have fallen above the "million" level. This is absolutely good news for those who are going to buy a house.
Domain`s study found that there are few areas where the median price of a Sydney apartment can reach the "million" level. But in this small group, the median price of apartments in three areas fell below "million", with Mosman being the most.
(the median price of Mosman`s apartment was "returned" last year after surpassing a million in 2016.)
Sydney`s "brother-in-law" Melbourne, too, is roughly the same.
Melbourne`s median home price was more than a million (suburbs), but in 2018, the median price fell below A $1 million in 16 regions. Clayton, Flemington,Lower Plenty,Collingwood and Chadstone were among the top five.
It seems that the more expensive the house prices are, the worse the fall-before Mosman, after Clayton..
In other words, the original miss of the pursuit of the "goddess" is now a step closer to you. The money at hand is limited, so the choice is limited. But now that prices have fallen, many areas have fallen out of the "million" class, and buyers have a wider range of choices-not just more options, but also the size of homes that seem to be able to increase a bit.
Overall, 2019 should be a good "leak-picking year," is the so-called "cheap and buy, expensive and sell." Take advantage of the fall in house prices and take a look at areas and properties that have never been considered. There may be a windfall.
