Major reversal for real estate in Sydney, Melbourne, Brisbane
- May 17, 2022
- 1 min read
House prices have slumped in a major reversal after the value of Aussie homes surged 25 per cent during the pandemic.
Sydney and Hobart have been worst hit by the fear of rising interest rates with house prices falling in April for both capital cities, a new report has revealed.
In Sydney, prices were down 0.1 per cent marking the first fall since early in the pandemic, while Hobart saw an even bigger drop decreasing by 0.44 per cent, which is the first fall for the capital city time since early 2018, the PropTrack Home Price Index report showed.
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