Unit price gains erased in Sydney, Melbourne
Unit markets around the country are now outpacing houses in the rate of price decline, with the east coast state capitals leading the downhill charge.
Many unit owners are seeing their property values diminish but there's still no respite from rising bills for renters. (Image source: Shutterstock.com)
Two years of large gains in unit prices have been wiped out altogether in Sydney and Melbourne.
Other capital cities have fared better but the unit markets around the country are now outpacing houses in the rate of price decline.
Consecutive rate hikes, low sentiment and reduced lending capacity continue to weigh heavily on housing demand as declining unit values become more widespread.
Since peaking in April, CoreLogic’s national unit index h…
