Continued property price falls ‘likely to be short-lived’
The great property price boom has, for now, run its course but the RBA could very soon flick the switch and rekindle national capital growth increases again.
Falling property prices, including in areas like Homebush (pictured), have some property owners worried they are lapsing into negative equity. (Image source: Shutterstock.com)
Property prices in Australia’s capital cities fell for the second successive month in January.
Driving the downturn was Melbourne, which recorded the sharpest decline (-0.6 per cent), followed by the ACT (-0.5 per cent) and Sydney (-0.4 per cent). Capital growth in regional areas meant that prices nationally were unchanged overall in January.
CoreLogic’s Home Value Index, released Monday (3 February), showed that Perth is no longer the market’s…
