Sydney housing market conditions continue to act as the primary on national housing values, with the market down 1.4% in November.
Core Logic has released their newest housing market update for December 2018.
This was the largest month on month fall since values fell 1.5% in May 2004 and Sydney`s downturn looks like it will set a new record for the largest decline since CoreLogic started tracking values in 1980.
The largest decline previously was the recorded between 1989 and 1991 and values fell by 9.6%.
It`s not all bad new; dwelling values remain 36% higher than they were five years ago and the recent declines have provided an improvement to housing affordability.