Home Lifestyle Perth property: Capital city house prices post sharpest quarterly fall in three...

Perth property: Capital city house prices post sharpest quarterly fall in three years

36
0

Potential home buyers could pay $53,000 less real estate after falling housing prices in one of the fastest declines in history.

The very last Domain report shows house prices in Australian capitals fell 4.9 per cent in the latest quarter from a peak in March.

It was the fastest quarterly decline on record.

The median home price is about $1,022,000, down $53,000 from the June quarter, but still 21.3 percent above the pandemic low of $999,000.

With the exception of Adelaide, house prices fell in all capital cities, with markets in Sydney, Melbourne and Canberra all experiencing their fastest declines on record.

“We are experiencing housing market conditions that many buyers and sellers have never experienced before,” said Domain chief economic researcher Nicola Powell.

https://www.perthnow.com.au/news/australia/house-prices-plunge-49-per-cent-from-peak-c-8671204

Previous articleVermeer became a target of climate activists
Next articleElon Musk claims he bought Twitter “to help humanity.” Elon Musk