Sydney, Melbourne House Prices Drop; Regional Surge
Sydney News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
House prices in Sydney and Melbourne experience consecutive monthly declines, with Sydney dropping 0.3% and Melbourne 0.6% in March. Year-to-date, Sydney is down 0.6% and Melbourne 0.9%, with annual growth at 5.3% and 4% respectively. Meanwhile, Perth, Brisbane, and Adelaide see significant growth. Buyers are pulling back due to high prices, inflation, and increased market supply. Auction clearances are down, and population growth in big cities is slowing. Experts predict further cooling in house value growth across the board.
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