The history of Sydney house price movements, in one chart

Photo: Getty Images.

If the last two months are anything to go by, it looks like Sydney’s property market is entering a downturn.

According to CoreLogic, prices fell in September and October, coinciding with auction clearance rates sliding below 60% for the first time since January last year.

After such a spectacular period of growth, it’s certainly created some interest.

However, it’s not the first downturn that’s been seen, as seen in the excellent chart below.

Source: CoreLogic

It was posted by Tim Lawless, CoreLogic’s Head of Research, on Twitter today, showing both the price upswings and downswings in Sydney’s housing market over the past 20 years.

While the upswings have been far larger than than the downturns, there’s actually been four periods when Sydney property prices have fallen during this period, ranging from 3.7% to 8.9% for units and 3.5% to 6.5% for houses.

So they have occurred in the past, just interspersed between long periods of strong price growth.

The usual disclaimer follows next.

Past performance is not indicative of future returns.

You can follow Tim on Twitter here. Cameron Kusher, research analyst at CoreLogic, is also a good follow. You can find him here.