HomeSurge

www.homesurge.com.au JOEL’S NOTES Signs the strongest property boom in decades is slowing. Buying a house in Sydney is now tens of thousands of dollars more expensive than it was just a month ago but there are signs the strongest property boom in decades is slowing. Property prices increased 1.8 per cent nationally in April with every capital city and region recording growth, CoreLogic data released on Monday morning shows. This was down from a three-decade high 2.8 per cent price increase in March. House prices have shot up by six-figure sums across more than 130 Sydney suburbs, with median prices in some pockets jumping more than $500,000 in the space of a year, locally Cronulla was one of the top performers with a growth rate of 25%. We should see things continue to slow, “The slowdown in housing value appreciation is unsurprising given the rapid rate of growth seen over the past six months, especially in the context of subdued wages growth,” Mr Hollis said. “With housing prices rising faster than incomes, it’s likely price sensitive sectors of the market, such as first home buyers and lower income households, are finding it harder to save for a deposit and transactional costs.” DOLANS BAY LILLI PILLI PORT HACKING 7 4 Houses sold last quarter 2 4 1 Average sale price $2,700,000 $2,100,000 $1,700,000 Source: Pricefinder 3 Lowest house sales price (Disclosed) $1,225,000 2 Highest house sales price (Disclosed) $6,450,000