Sydney’s property prices dropped 10% this year, with $450 a day lost from average home

Decline comes as RBA documents indicate values may sink as much as 20% nationally from their February peak by end of 2024

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Sydney's property prices have fallen by more than 10% since their mid-February peak, shedding almost $450 a day in value on an average home, and leading other major markets lower, CoreLogic said.

The 10.1% decline for home values in the harbour city so far comes as documents from the Reserve Bank of Australia indicate average property values may sink as much as 20% nationally from their recent highs by the end of 2024. That decline would be the steepest since the 1980s if realised.