Investment

Sydney real estate property prices have fallen 10 per cent since the boom ended in late 2003 - and by 2.3 per cent in the last quarter - a Bureau of Statistics survey has revealed, suggesting the market slump is deeper, more protracted and from a lower peak than previously thought.

The downturn is creating opportunities for potential first-home buyers and bargain hunters, but a seller who bought a property in the past three years is likely to lose money if forced to sell, after stamp duty and real estate costs.