Housing downturn in Melbourne and Sydney propelled by expensive areas


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Sydney’s unit market suffered a hit through March, with values down by 1.2 per cent to be 8.9 per cent lower over the past year.


House values also fell in Brisbane (to be 1.3 per cent lower through the year), Adelaide (0.3 per cent in the month, up by 0.7 per cent over the year), Perth and Darwin.


Perth prices dropped by 0.4 per cent to be 7.6 per cent lower over the year while in Darwin they fell by one per cent to be 3.2 per cent down over the past 12 months.


Only Hobart, where values lifted by 0.6 per cent, and Canberra – up by 0.1 per cent – defied the trend.


CoreLogic head of research Tim Lawless said there were some signs that the rate of decline was starting to ease. But falls were extending to other parts of the country.


Article source: https://www.watoday.com.au/national/western-australia/hang-glider-practising-for-major-event-killed-near-merredin-20190224-p50zvb.html?ref=rss&utm_medium=rss&utm_source=rss_feed

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