Prices fell 12.1 per cent in Sydney, 8.1 per cent in Melbourne, and 6.9 per cent in Hobart last year.
Higher interest rates and the cost of living have led to lower market demand – impacting property prices.
Can't have flat fibro cladding, but you can have cheap nasty bricks.
Perhaps there's something wrong with the State-approved product.
Must be climate change!
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Hobart house value drop a 'cooling' rather than a 'plummet'Real estate agents say the era of FOMO — or fear of missing out — in the Hobart property market is over, with values dropping 7 per cent in 2022, but nothing like the plummet some predicted because of interest rate rises. It dropped almost the entire amount as the rate of inflation, if you think that’s a cooling and not a plummet, then my god I hope you don’t own a home in Tasmania. Every economist would be saying there’s the bubble that’s about to implode. The headline on ABCs website was 'Hobart tops other capitals for house value drops last month as agents report 'FOMO' subsiding' actually it's the third highest drop behind Sydney and Melbourne... Way to 'Journalism' ABC...
Source: abcnews - 🏆 5. / 83 Read more »