Melbourne's property prices have tumbled more than 2 per cent as the coronavirus downturn kicks in.
Australia's biggest property markets felt the brunt of the downturn from the coronavirus pandemic with Sydney and Melbourne property prices falling more than 2 per cent over the June quarter.
"The number of residential property transactions fell substantially in the eight capital cities during the June quarter 2020, due to the effects of COVID-19 on the property market," Mr Tomadini said.In Sydney, house prices fell 2.6 per cent, while apartment prices fell 1.4 per cent. In Melbourne house prices dropped 2.8 per cent compared to a 1 per cent decline in apartment values.
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