Via the UBS Global Housing bubble Index:
Sydney / Australia
Prices peaked last summer and have slid moderately as tighter lending conditions reduced affordability. Particularly since the land tax surcharge more than doubled and a vacancy fee was introduced, the high end of the market has suffered most. The vacancy rate on the rental market has also climbed. Nevertheless, inflation-adjusted prices are still 50% higher than five years ago, while rents and incomes have grown at only single-digit rates.
Last year it was fourth on 185 points. A goodly improvement in a year to slip to 11th but a lot more work to do to say the least:
