The capital city areas seeing the largest declines at the moment are very expensive suburbs in Sydney . These areas saw very large jumps in pricing during the pandemic and are also the areas that , long term , are the strongest growth suburbs . You may not be able to find a bargain in North Sydney and Mosman but it ’ s likely that right now pricing is the best you ’ ll ever see . The regional areas seeing the largest declines are also areas that saw very big jumps in pricing during the pandemic . The shift away from holiday home demand , as we outlined in Ray White Now in December , is now clearly showing up in pricing .
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