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According to CoreLogic estimates, real estate prices in Sydney have fallen about 14 per cent since their peak in 2017 while the slump in Melbourne has averaged about 10 per cent.In January, NAB was expecting peak-to-trough declines of about 15 per cent in Sydney and Melbourne. "The key factors we see as having driven these declines include the early prudential tightening , some tightening in credit conditions , waning foreign investor demand as well as weaker price expectations themselves," Mr Oster said.for the nation's property market, predicting parts of Sydney and Melbourne would face drops of more than 15 per cent over the next 12 months.
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