It’s official, Sydney house prices are falling
News stories suggesting Sydney real estate is due for a 20% correction need to be taken with a few grains of salt.
However when there is a growing choir of industry experts starting to whistle a similar tune, it does makes you sit up and take notice.
In recent weeks analysts from UBS, Citibank and Standard & Poors have all said the market roller coaster has definitely reached the top of it's climb and may well start rattling down the other side.
Core Logic figures released this week validate the talk, with a 1.3% drop in Sydney prices in May. This is real data, not speculation.
So what does that mean for downsizers? Is this just “the cooling off period we had to have”? Or is there a white knuckle ride coming around the next corner?
If you are someone who likes to "buy low and sell high", it is hard not to think now is the time to act.
After all, if you dodge a 10% decline on a $2 million home, it would cover stamp duty, moving costs and leave you with a healthy travel fund for the years ahead.