Capital city home prices fell by 0.2 per cent last week, but Sydney values tumbled twice as fast as the national average.
Sydney’s faltering market led the losses with a 0.4 per cent fall in the seven days to January 21, according to property group CoreLogic.
Melbourne slipped 0.1 per cent, while Brisbane, Adelaide and Perth’s prices were steady.
In the past 12 months, home values across those five capital cities have risen 3.6 per cent with Melbourne in front with an 8.4 per cent lift.
Sydney’s prices rose 1.9 per cent over the year, Adelaide’s values were up 2.6 per cent, while Brisbane’s gained 2.3 per cent and Perth’s was down 2.3 per cent.
Median house prices for private treaty sales, rather than auctions, were $815,000 in Sydney, $680,000 in Melbourne, $525,000 in Brisbane, $495,000 in Perth, and $440,000 in Adelaide.
Median unit prices for private treaty sales were $650,000 in Sydney, $482,500 in Melbourne, $397,500 in Brisbane, $302,000 in Adelaide and $370,000 in Perth.