Sydney house prices still 20% above pre-pandemic levels despite rising interest rates

Economists say while property prices could come down by up to 20%, affordability has never been worse'

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House prices in Sydney remain more than 20% above pre-Covid levels despite rising interest rates, as economists warn housing affordability has never been worse".

After hitting record highs in January, Sydney house prices have dropped -1.5%, but remain 22.7% above pre-2020 levels, according to CoreLogic data.