abc.net.au/news/australia-s-housing-market-a-year-in-review/101776846During 2022, eight successive rate rises aimed at offsetting high inflation sent tremors across the market — and are still at the centre of the fall in Australian home prices.However, CoreLogic's head of research, Eliza Owen, says the pace of decline has been slowing on a "broad basis since September".
Narrabeen, Surry Hills and Redfern houses recorded the largest falls in value over the year, down more than 25 per cent, while unit values in Centennial Park and Mona Vale fell by 23.1 per cent and 20.8 per cent, respectively.resilience was consistent over 2022 Popular lifestyle markets such as the Southern Highlands, Shoalhaven and the Sunshine Coast have recorded some of the strongest peak-to-trough declines in value.
"We expect the nationwide all-dwelling price to fall 11.5 per cent peak-to-trough. The pace of price declines is anticipated to slow from here, with the market bottoming around September quarter 2023."38A Wentworth Road, Vaucluse NSW sold for $62.75 millionKambalda East in Western Australia with a median value of $118,525
Why do we need to know this? Far better for the ABC to be explaining the considerable contribution of high immigration to upward pressure of housing prices. But maybe the ABC thinks that a good thing?!
50% down takes us back to 2012 prices. Not enough given wages haven't risen much. Australia is such a globalist, mass immigration, pro elite, neoliberal, anti poor/middle class mess.
What pointless articles these are. People are homeless and these articles are autopsy porn.