Oh No! Property Prices Are Falling!

Hold my beer, because according to an article in the AFR, Sydney, Melbourne house prices are going backwards, even though the others are not! Quoting the daily data from Cotality, they say rolling daily index shows home values in Sydney and Melbourne have been shrinking since February and were 0.04 per cent down as of Sunday. The AFR claims this is a result of the hip-pocket pain from surging fuel prices combined with rising interest rates, which are scaring off prospective buyers. But let’s be clear on two things. Markets other than Sydney and Melbourne, for now at least remain […]