In this month’s market summary, many of the high level sources discuss that although the market is in a downwards direction, this decline is not substantial. It’s more of a correction than a fall.

This month the area of concentration seems to focus on a maturing understanding on ‘softening’ housing values felt throughout the real estate industry, but especially in Sydney and Melbourne. The panic is over and industry voices are looking at the way forward, as well as more nuanced and likely future directions.

This month in Sydney’s real estate sees a minor – and perhaps temporary – reprieve from falling property sales, but industry pundits overall point towards a large-scale correction on a number of fronts.

Despite another weakening month in the housing market, analysts are quick to point out that despite any losses felt, Sydney home prices are still up 66% on the last trough in 2012, that the overall decline is still relatively mild and is arguably a necessary adjustment to the market.

Professionalism in the NSW real estate industry is finally getting a much needed boost, with the Real Estate Institute of NSW (REINSW) successully lobbying the State Government for changes expected to come in to effect towards the end of 2018.