by Boo_Randy
www.abc.net.au/news/2022-10-03/property-prices-corelogic-rents-september-2022/101495078
Property prices continue to fall nationally as interest rates hit, with key capital city housing markets falling by up to 6% in the past three months alone.
CoreLogic data shows that in September properties sold for 1.4% less on average nationally than in August.
The only capital city that did not see a monthly drop was Darwin, with values down 1.8% in Sydney and nearly as much in Brisbane and Canberra.
Sydney’s housing market is down 6.1% in the past three months, while Hobart and Canberra have also shaved 4.5% and 4.4% respectively.
Watch below.
www.macrobusiness.com.au/2022/10/australia-records-largest-quarterly-house-price-fall-since-1983/
As shown above, house values fell in all submarkets except Darwin, where values were flat.
The quarterly pace of decline has accelerated, however, with both the combined capitals (-4.3%) and regions (-3.6%) bombing:
Australia’s Business Cycle Explained… The RBA is currently holding its cash rate at 2.35% with its next meeting scheduled for October 4
