Chinese buyers are buying one in four new homes in NSW, supporting prices in the state even as the property boom ends.
Sydney's housing market was one of the worst performers, with the media house price falling 1.9 per cent to $1,167,516 in the first quarter of the current financial year, according to a Domain Group report released on Thursday.
However Domain, which is owned by Fairfax Media, says inner city and eastern suburbs prices dropped 6 per cent in the same period.
The apartment market has seen similar losses, more markedly on the north shore where unit prices dropped 6.7 per cent to a median of $900,000.
Yet the continuing interest from Chinese buyers, revealed in an analysis by Credit Suisse, will ensure the prices don't drop too far, experts say.
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