An article on the website The Adviser talks about the fall in property prices in Sydney and Melbourne. Property value in Sydney fell by 1.5% over the course of last month and 1.4% over the last quarter. Prices in Melbourne, over the same time frame, has fallen by 3.6% and 0.4%.
Experts are putting it down to affordability and tighter lending rules. It is worth noting that not only has the owner-occupier segment suffered but the investor activity has also grossly dropped.
You can read the original article here.
