Australia’s housing prices are trending down. See which suburbs have had the biggest falls

Australia’s property market is experiencing a notable price correction, with most capital cities reporting declines over the winter months. According to data from Cotality, Sydney saw the steepest drop, while other major cities also saw falling prices. The trend is driven by rising interest rates and less attractive tax incentives for investors, which are dampening demand. Analysts warn that continued inflation could prompt further rate hikes, potentially extending the downward trajectory of home prices.

Cotality says prices have declined in most capital cities over winter. Search the data to see how they have changed in your areaGet our breaking news email, free app or daily news podcastAustralia’s property market is facing a rare price correction, as rising interest rates and less favourable tax settings for investors accelerate a downturn.Most capital cities recorded winter price falls, according to Cotality data, with Sydney leading the decline. That weakness is expected to continue, as higher inflation could lead to further interest rate hikes, denting demand. Continue reading...