Housing downturn in Melbourne and Sydney propelled by expensive areas

Melbourne dwelling values dropped 0.8 per cent last month, with house values off by 1.1 per cent. Over the past 12 months, Melbourne house values have subsided by 12.4 per cent to be the worst performed of any capital.

Only Hobart, where values lifted by 0.6 per cent, and Canberra - up by 0.1 per cent - defied the trend. Values in NSW outside of Sydney have now dropped by 3.6 per cent over the past year while through the same period non-Brisbane parts of Queensland have seen a decline of 1.6 per cent.

Slow slide to hell. We still haven't had the international debt meltdown.

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Housing downturn in Melbourne and Sydney propelled by expensive areasAustralian house prices fell even further in March, driven by sliding house values being reported in Melbourne and Sydney's most expensive areas. swrighteconomy
Source: smh - 🏆 6. / 80 Read more »

Housing downturn in Melbourne and Sydney propelled by expensive areasAustralian house prices fell even further in March, driven by sliding house values being reported in Melbourne and Sydney's most expensive areas. The corrections only just beginning Australia 😄 If your a first home buyer hang in there for at least another 18 months 😄
Source: theage - 🏆 8. / 77 Read more »