PHOTO: Sydney

Sydney first-home buyer Jarrod Myers and his wife Liss had been waiting several years to buy a home, having missed out when most of their peers bought at the start of the boom.

So when prices continued to fall this year the couple spent four intense weeks inspecting properties before snapping up a house in Sydney’s upper north shore suburb of Thornleigh.

Many analysts expect the decline that hit Sydney and Melbourne housing markets after the 2017 peak to continue until the end of the year, leaving would-be buyers torn about whether to buy now or wait.

“We were told as soon as everyone knows the market is going to turn around, it will be too late and the competition will ramp up again. It’s going to be a family house we will live in for 10 to 15 years so we aren’t too concerned,” Mr Myers said.