Property Prices Stabilise In February

Sydney’s housing market is showing signs of recovery with values bouncing back by 0.4 per cent since February 7, according to CoreLogic.

The recent data from the CoreLogic Daily Home Value Index (HVI) revealed that dwelling values in Sydney have rebounded by 0.3 per cent over February, reducing the peak-to-trough decline to 13.6 per cent.

Across the other major capital cities, Melbourne and Brisbane home prices both fell 0.4 per cent, Adelaide was 0.2 per cent lower, Perth 0.1 per cent, while values in Hobart dropped 1.4 per cent.

The national index declined 0.14 per cent over the month, the smallest monthly fall since May 2022 when rate hikes commenced.