Home prices stagnate in December after surge in 2015

AFTER a year of strong growth, a fall in Sydney home prices has dragged the national average flat in the last month of 2015.

While the national average capital city home price rose 7.8 per cent over 2015, it went nowhere in December and actually fell 1.4 per cent over the last three months of the year.

Sydney was the prime mover on all fronts - its 11.5 per cent annual gain was the strongest of any capital city market and its 2.3 per cent third quarter decline also the biggest.

However, CoreLogic RP Data's head of research Tim Lawless said he is not expecting the Sydney market to experience serious price falls.

"I think there's still that underlying factor of strong demand driven by low interest rates, and not really the supply issues that Melbourne has seen, I think we'll continue to see Sydney at least remain fairly neutral in its growth," he said.

Read more at ABC News Online

 


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