Looking to upgrade? Values have tumbled in some of Sydney’s most glamorous areas, with one suburb notching a price drop of close to half a million dollars.

The NSW capital is leading the downturn and its upper end is falling the fastest. Even the boom towns of Perth, Brisbane and Adelaide are easing.

Looking to upgrade? Values have tumbled in some of Sydney’s most glamorous areas, with one suburb notching a price drop of close to half a million dollars.