‘Worse before it gets better’: Sydney, Melbourne house price plunge likely to accelerate
By Dominic Powell
August 3, 2022 — 5.15amAdvertisementHousing prices in some of Melbourne and Sydney’s most affluent suburbs have dropped almost 10 per cent in the past three months, with economists predicting the falls could accelerate as interest rates continue to rise.
Data out this week from property analytics firm CoreLogic show a plunge in valuations in Australia’s largest capital cities, with dwelling prices through July falling 2.2 per cent in Sydney and 1.5 per cent in Melbourne.
‘Worse before it gets better’: Sydney, Melbourne house price...
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