Property market ends boom year with slight drop [Video]

Sydney home values fell for the third month in a row as prices around the country ended the year in a very slight decline.

Nationally, home values dropped 0.1 per cent during December, enough to bring the quarterly result down 0.1 per cent as well, CoreLogic’s latest data says.

CoreLogic research director Tim Lawless said the decline in values was no surprise.

“This result represents the housing market catching up with the reality of market dynamics,” he said.

“Growth in housing values has been consistently weakening through the second half of the year, as affordability constraints weighed on buyer demand and advertised supply levels trended higher.”

The decline came after home values overall increased 4.1 per cent in the first half of 2024.

And …