Property market downturn spreads to more than 90 per cent of suburbs
Property prices are falling across almost every part of Australia as higher interest rates, tax uncertainty, rising listings and retreating buyers put pressure on the national market.
The storm clouds are seemingly intensifying for the Australian property market. (Image source: FiledIMAGE/Shutterstock.com)
The property downturn is now nationally universal.
Prices are going backwards in an astonishing 93 per cent of suburbs, according to Cotality’s newly released (1 September) Home Value Index.
With the exception of Australia’s smallest capital city market, Darwin
, median home values have fallen in every other city market and regionally.While the two most prominent monthly price data reports vary on just how sharp the August price falls were, they …
