The price of residential property in Sydney is expected to decline for the period 2017 to 2020. According to QBE the price of houses will decline by 0.2% over the period. All other capital cities with the exception of Darwin can expect an increase in housing prices, though this will still not bring house prices to the level of the median price for a Sydney home at $1,177 million. The next most expensive capital city is Melbourne with a median of $852,700.
The apartment market is a mixed bag with the biggest declines to be expected in the Brisbane market with a 7.2% decline off a median price of $414,000, a decline of 3.8% is expected in Sydney off a median price of $790,000 which is typically a 2 bedroom apartment.
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