Sydney dwelling values have climbed 78.8% over the last five years. It is an incredible rise and is illustrated in the graph below [top line].
For the last couple of years there have been plenty of commentators predicting that it has reached its peak. The latest indicators are that Sydney price growth has slowed. The next couple of months could show a retreat in prices.
If prices do fall, will we be faced with a conveyancing apocalypse?
This is unlikely. Whereas dwelling values have climbed 78.8%, NSW property transfers are up by about 24% compared to five years ago – 2016/17 compared to 2011/12.
A 24% increase compared to five years ago is a healthy increase for the conveyancing industry and does not look like a bubble waiting to be burst.