The rapid growth of ride-share services such as Uber and Ola is slowing in Sydney, with new figures suggesting a “natural balance point” is emerging in the taxi wars.

Despite Sydneysiders using ride-shares more than taxis for the first time in 2019, growth in the new sector has curtailed, the annual Independent Pricing and Regulatory Tribunal point-to-point survey found.

Growth in ride-share services such as Uber is slowing in Sydney. Credit:Ryan Stuart

Ride-share uptake grew by just three per cent in the latest IPART survey, compared to 12 per cent in the previous year. The sector had seen double-digit growth for much of the last decade.

While taxi use shrunk for another year, the IPART report said a “natural balance point” may have been reached in the local market.