Australia’s property market is in its biggest slump since the government took office, with Sydney and Melbourne leading the drop—Sydney down nearly 6% this year, Melbourne even below its five-year low. Rising interest rates, high living costs, and new tax policies are crushing buyer confidence, while petrol prices add to hesitation. Smaller cities like Brisbane, Adelaide, and Canberra also saw declines, though Perth and Hobart barely budged. The most expensive homes are taking the biggest hits, while first-home buyer zones saw slight gains. Experts expect more falls ahead as sellers hold off, but values remain far above a decade ago—with Melbourne lagging and Brisbane, Perth, and Adelaide up over 100%. New construction approvals are rising, but won’t fix the long-term shortage.
Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn.
Advertise on DNN: advertise@thednn.ai
This is an automated, high-level news summary based on public reporting. Report issues to feedback@thednn.ai.
Podden och tillhörande omslagsbild på den här sidan tillhör
The Daily News Now!. Innehållet i podden är skapat av The Daily News Now! och inte av,
eller tillsammans med, Poddtoppen.
