SYDNEY - Australian home prices fell in May for the first time in almost a year as the impact of the coronavirus shutdown rumbles through the economy.
While the relatively mild declines during the height of the lockdown will raise hopes the hit to the housing market may be less than initially feared, the real test will come later this year when assistance packages are scaled back. Currently, almost 430,000 borrowers are on six-month payment holidays and around 2.9 million workers are receiving government wage subsidies.
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