House and unit values slumped in more than eight out of 10 suburbs nationwide during the December quarter as the housing downturn worsened, data from CoreLogic shows.previous three months when three out of four suburbs were declining
“The market downswing doesn’t discriminate, with only a small proportion of suburban areas riding a wave of positive growth among the sea of declining values,” Mr Lawless said. Sydney, Melbourne and Hobart also recorded a slight drop in the proportion of suburbs recording house price decline at 98 per cent each, down from 100 per cent from the September quarter as some areas started to rise.
Across Sydney, house values fell 4.4 per cent over the quarter, slashing the median by $57,000 to $1,221,367 in the past three months.Inner-city units “These are also some of the tightest rental markets in the country, with precincts of inner Melbourne recording the highest rates of rental growth.”