House Prices Fall in Major Cities, Signalling Market Shift
House prices in Sydney and Melbourne have decreased by 3.1% and 3.5% respectively from recent peaks, marking the first month without a rise in property prices since January 2023. The annual house price inflation rate has also dropped to 9.5%, down from 10.9% earlier this year. Labor's budget changes are expected to shift housing focus away from investors.
Why it matters
Falling house prices may provide relief for first-time buyers and renters facing affordability challenges.
Read the full story at The Guardian AU→