Australian house prices keep growing but Sydney posts first fall in 17 months

Australian property prices continued to race upwards last month, but the nation's two biggest cities have started lagging well behind.

For the first time in 17 months, Sydney property prices recorded a monthly fall, of just 0.1 per cent in February.

"Not much of a decline, the equivalent of about $1,000 at the median value level, but I think it's definitely a sign that the market is shifting slightly from a sellers' to a buyers' market," said CoreLogic's head of Australian research Eliza Owen.

Melbourne prices were flat for the month and up just 0.2 per cent over the past three.

Read More: https://www.abc.net.au/news/2022-03-01/house-prices-keep-growing-but-sydney-posts-first-fall-since-2020/100870478