Brisbane and Sydney hit hardest by falling house prices as 5.2% shaved from Australian property values
Australian house prices have fallen 5.2% from their March peak, with Brisbane and Sydney experiencing the most significant declines. Economists attribute the downturn to rising interest rates, which are reducing borrowing capacity and cooling the market.
Why it matters
The decline in property values reflects the broader economic impact of monetary policy tightening on household wealth and consumer confidence.
House prices in Australia are at the same point they were a year ago, the latest Cotality data shows. House prices in Australia are at the same point they were a year ago, the latest Cotality data shows. Housing Brisbane and Sydney hit hardest by falling house prices as 5.2% shaved from Australian property values Cotality data shows median house prices fell in September as interest rates hit borrowing capacity
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Prefer the Guardian on Google Housing prices are falling in almost every suburb in Australia’s biggest cities, with values dropping faster in Brisbane than Sydney as the slowdown intensifies.
Prices nationally have fallen 5.2% from their peak in March to where they were a year ago, Cotality data released on Thursday shows.
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