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by Boo_Randy
www.abc.net.au/news/2022-10-03/property-prices-corelogic-rents-september-2022/101495078
Property prices are continuing to fall nationally as interest rates hit, with key capital city housing markets diving up to 6 per cent in the last three months alone.
CoreLogic data shows that in September properties were sold for 1.4 per cent less on average nationally than in August.
The only capital city that didn’t witness a monthly fall was Darwin, with values dropping 1.8 per cent in Sydney and by almost as much in Brisbane and Canberra.
Sydney’s property market has now dived 6.1 per cent in the last three months, while Hobart and Canberra have also shaved off 4.5 and 4.4 per cent respectively.
Look out below.
www.macrobusiness.com.au/2022/10/australia-records-largest-quarterly-house-price-fall-since-1983/
As shown above, dwelling values fell across every sub-market except Darwin, where values were flat.
The quarterly pace of decline has accelerated, however, with both the combined capital cities (-4.3%) and regions (-3.6%) bombing:
Australia’s economic cycle explained… RBA currently keeps its cash rate at 2.35% with its next meeting scheduled for October 4
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Image and article originally from www.investmentwatchblog.com. Read the original article here.