Property monthly price falls biggest since 1983
The biggest property price drop in almost 40 years is the fourth successive monthly market decline and there’s no sign of an immediate turnaround.
While prices remain above pre-Covid levels, storm clouds are opening up above the Australian property market after years of sustained price. (Image source: Shutterstock.com)
Australia’s property price declines are accelerating and spreading, with August delivering the sharpest monthly retreat since 1983.
Down 1.6 per cent over the month, CoreLogic’s national Home Value Index (HVI) has clocked up its fourth consecutive month of price falls.
Unless you were a homeowner in Darwin
or regional South Australia, there was nowhere to hide.Sydney continued to the lead the downswing, with values falling 2.3 per cent over t…
