Nowhere to hide as property prices tank around the country
The housing market is moving deeper into correction territory and has erased the annual price gains that had accrued earlier in the year and late last year.
The storm clouds that have descended upon the Australian property market are now at their most tumultuous in Brisbane. (Image source: Shutterstock.com)
A sixth consecutive month of property prices declines was notched up in September and with interest rates rising and inflation still rampant there’s little reason to expect a reversal to be imminent.
Depending on your choice of monthly data source, prices declined nationally over the past month by 1.1 per cent (Cotality’s Home Value Index) or by 0.2 per cent (realestate.com.au’s PropTrack-powered index).
Whichever way you slice and dice it, unles…
