Upmarket suburbs in Melbourne and Sydney are reporting property price declines not seen for almost two years. 7NEWS
Sydney and Melbourne have suffered the first quarterly decline in property prices in almost two years.Market analyser CoreLogic says data released on Thursday indicated the first drop in monthly growth rates for Sydney and Melbourne in 22 months.
“Higher-income households tend to hold more housing debt to income, so do property investors,” Owen said. Next was just up the road in Darlinghurst, with an 8.3 per cent drop. That’s more than $200,000 wiped off the average house price in the suburb in only three months.
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