Brisbane house prices could fall faster than Sydney and Melbourne after values slumped by 1.8 per cent in August, the biggest monthly decline since the early 1980s.
House prices in Brisbane could fall faster than in Sydney and Melbourne after values slumped by 1.8 per cent in August, the biggest monthly decline since the early 1980s, the CoreLogic home value index shows.
“I think this is a reflection of the fact that values rose higher than most markets at 43 per cent during the COVID through to peak, so arguably it probably overshot the mark and is now paying the price.” “It’ll be interesting to watch what happens with Adelaide because it posted an even higher growth at 44.7 per cent,” said Mr Lawless. “While prices are more affordable, Adelaide doesn’t have a strong demographic tailwind behind it like south-east Queensland.”After posting stronger gains during the upswing, regional dwelling values have started to weaken, falling by 1.5 per cent during the month.
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