Property slowdown spreads nationwide
Residential property prices are slowing in Sydney and Melbourne but rental yields are improving in both cities, according to CommSec. Property prices grew more than 20 per cent in Sydney last year but this has slowed to 10 per cent. Rental yields are expected to improve to about 4.5 per cent from 4 per cent in both Sydney and Melbourne. CommSec disagrees there'll be a price crash around the country but said the slowdown is now spreading to Perth, Canberra and Adelaide where price growth likely to fall below 10 per cent. The only exception to the cooling market is Brisbane, which lagged behind other markets and is now enjoying 30 per cent annual price growth.