Sydney recorded a 12.1 per cent drop, Melbourne an 8.1 per cent drop, and Hobart a 6.9 per cent drop.“I don’t know if we’ll necessarily finish 2023 at a lower rate than 2022 but whatever rate raise we have over the next three or six months may actually start to be reversed,” Mr Phillips said.
Not Perth biaatches, not Perth.
About time. The property market is HUGELY inflated.
… how do they stack up against pre-Covid prices?
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Record falls in property prices for state capitalsSydney, Melbourne and Hobart have all recorded record annual falls in property prices for 2022. 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. Must be climate change! Perhaps there's something wrong with the State-approved product. Can't have flat fibro cladding, but you can have cheap nasty bricks.
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Property values plunge in 2022, further falls likely: CoreLogicThe housing market finished the year lower for the first time since 2018 and the downturn re-accelerated during December, research house CoreLogic has found.
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Property values plunge in 2022, further falls likely: CoreLogicThe housing market finished the year lower for the first time since 2018 and the downturn re-accelerated during December, the research house found.
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