Is not a good time to buy property?

House prices are scaling new heights in Sydney and Melbourne but consumers appear to be getting gloomy about the property market.

This could mean softer demand from buyers over the rest of 2105. It could also mean an increase in the number of good value homes available for purchase.

Prices have leapt 18.4 per cent in the last year in Sydney and 11.5 per cent in Melbourne.

Source: The Age