Housing market splits as Perth surges and largest capitals retreat
Perth continues to lead the nation with strong monthly gains despite rising listings, while Sydney and Melbourne post declines.
Sydney home values are now 1.0 per cent below their November peak, while Melbourne values are 1.9 per cent below the March 2022 peak. (Image source: Elias Bitar/Shutterstock.com)
Perth’s unbridled property boom continues to defy a world of economic uncertainties and a gradual increase in local real estate listings to outshine the rest of the country.
The Sydney and Melbourne markets on the other hand have moved more firmly into correction territory, both declining by 0.6 per cent in the same month that the Western Australian capital chalked up a huge 2.1 per cent gain.
Brisbane, Adelaide and Darwin also saw growth slow,…
