Australian house prices plummet for fifth straight month
Australian house prices have fallen across 93% of properties in capital cities for the fifth consecutive month, with $40,000 wiped off the average house value over winter. Sydney recorded the biggest fall at 1.4%, followed by Melbourne at 1.1% and Brisbane at 1%. CoreLogic predicts this could be the biggest correction for the Sydney property market in 40 years, with the Reserve Bank potentially increasing interest rates further when the board meets later this month.See omnystudio.com/listener for privacy information.
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