Sydney property price outlook flat

Declining property prices in Sydney have pulled down the national average home price by 0.1 per cent over the last financial year. This is the first time this price indicator fell in a decade. ABN Amro said house prices in Sydney were so out of line that prices in the city may remain flat for five years or longer. Property researchers Residex said negative commentary was scaring off buyers but that the historic rate of growth in property prices in Sydney had actually been very mild.