Aussie property prices see biggest drop in value in almost 40 years

have suffered their biggest monthly drop in almost 40 years as the market's downturn accelerates.

CoreLogic's research director, Tim Lawless, said Brisbane's shift into decline had been acute after almost two years of sustained growth due to record high internal migration and relative affordability."It was only two months ago that the Brisbane housing market peaked after recording a 42.7 per cent boom in values," Lawless said.

"Over the past three months, values are down eight per cent across the Richmond-Tweed, -4.8 per cent across the Southern Highlands-Shoalhaven market and -4.5 per cent across Queensland's Sunshine Coast."

Scaremongering.

9NewsQueensland Luckily those Bail In laws were quietly passed in 2018 so if the big banks go under, your accounts will be skimmed to prop them up. What a fucked country this is.

Wow, 1.6%? Now we can buy a house. 😂

9NewsSyd Yet- it doesn’t affect the banks. 800K mortgage on 2% interest, or 500K mortgage at 5% interest. The banks win every time, and now you’re paying more for your property in the long run.

More! We need prices to go lower

Great. So now a $500,000 house will only cost $2,000,000.

Just like an erection.

Disaster for politicians invested in housing

Still massively overpriced and a long way to go to anything resembling their actual value.

lucamatroianni

9NewsSyd You’re going to own nothing, and love it.

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