bird houses on strings

Sydney leads the national trend, with property prices dropping 10% from the highs of a year ago. Current data suggests the cost of renting might not necessarily follow the trend.

The median home price drop in the past year is greater than in the recession around 1990. If you own a median priced Sydney home, you effectively lost $20000 last month. But according to a Core Logic report report released this week, this is not reflected by corresponding falls in the cost of renting. These have not changed significantly over the past year for any of the major cities, and the November update from reports that regional (and Canberra) rents have continued to rise - up by 1.4% this year. Sydney remains the most expensive city by far, with rentals costing over twice as much per room as Perth.

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