National dwelling values fell by 0.7% in February, according to CoreLogic, with values declining by a total of 6.8% since prices peaked in October 2017.
Australia’s rapid growth in house prices and construction over the past few years is largely a result of low interest rates, according to new research published by Australia’s central bank.
Greater-Sydney’s empty properties are enough to shelter the entire population of a town the size of Wagga Wagga or Tamworth, according to one property research firm.
Analysts from two of Australia’s biggest financial institutions have warned that tightening lending standards could continue to lower house prices and weigh down the economy.