Sydney property prices fall 9.5 per cent since their peak

Sydney property values have now fallen 9.5 per cent since they peaked in July last year and with "no circuit breaker" in sight, will likely surpass the largest downturn on record.

The slide in prices accelerated in November, with national dwelling values falling 0.7 per cent, the weakest monthly result since the global financial crisis, led by a 1.4 per cent decline in Sydney and a 1 per cent drop in Melbourne, CoreLogic's latest home value index showed.